The Egyptian government to increase electricity prices in July

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According to officials, the Ministry of Electricity and Energy will start applying new increases to electricity bills in July. This is part of the government’s plan to lift electricity subsidies gradually.

The government, thus, has raised electricity prices nine times in the last eight years for domestic consumption while reducing costs for factories and the commercial sector or fixing them for five years.

The government’s subsidy for electricity in the state’s general budget for the past year and the current year has completely disappeared. In the fiscal year 2015-2016 budget, the government allocated about 28 billion pounds for electricity before reducing subsidies yearly until they were completely gone. Despite this, the government announced the continuation of the annual increase in electricity prices until 2024-2025. Since President Abdel Fattah El-Sisi took office, electricity prices have increased by 860%.