Dr. Mohamed
Shaker, Minister of Electricity and Renewable Energy, reported a decline
in electricity subsidies during the new fiscal year by 5.7 billion pounds
from 52.5 billion pounds to 46.7 billion Egyptian pounds. He said during
a press conference two days ago to announce the new prices that the state
budget will bear only 37 billion Egyptian pounds of support divided To
increase the Ministry of Finance share in the capital of electricity
companies by about 21 billion Egyptian pounds pumped in the budget of the
Holding Company and the State bears about 16 billion pounds of the total
value of support
Shaker
explained that the remainder of the subsidy is borne by the household
segment, which consumes more than 1000 kilowatts, pays LE 1.1 billion and
will be charged higher than the value of real electricity
production
Commercial
and industrial sectors also bear LE 8.3 billion for the same reasons,
which is known as mutual support
Eng.
Sabah Mashali, Senior Undersecretary of the Ministry of Electricity and
Renewable Energies for Political Communication Affairs, told Al-Borsa
newspaper that the expected result of the increase in electricity prices
will reach 30 billion Egyptian pounds, aimed at developing and
modernizing transmission and distribution grid and improving the quality
of service
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