The new prices are in line with the government’s strategy to move away from paying power subsidies, however, the government has delayed adjusting prices since 2021 as inflation began to hike due to the pandemic
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For the first time since 2021, Egypt is upping electricity prices, effective January 1st, 2024.
The Egyptian Electricity Holding Company released the new prices earlier today, following news of an increase in Metro prices, a potential hike in mobile tariffs, and an official increase in household internet prices by Telecom Egypt.
Residential electricity prices, implemented between January 1st and June 30th, are now set as follows.
Households within the 0-50 kWh consumption bracket will pay EGP 0.58 per kWh, consumers of between 51-100 kWh will pay EGP 0.68 per kWh, and those using 101-200 kWh will pay EGP 0.83.
Residential homes consuming between 201-350 kWh will pay EGP 1.25, while those using between 315-650 kWh will pay EGP 1.40.
Commercial consumption prices were increased as well, with commercial electricity users consuming between 0-100 kWh will pay EGP 0.65 per kWh, 0-250 kWh will pay EGP 1.36, while users of 0-600 kWh will pay EGP 1.50.
Those in the fourth consumption bracket (601-1000 kWh) will pay EGP 1.65, with those using more than 1000 kWh will pay EGP 1.8 per kilowatt.
The new prices are in line with the government’s strategy to move away from paying power subsidies, however, the government has delayed adjusting prices since 2021 as inflation began to rise due to the pandemic.
With the new electricity prices, businesses should expect an increase in the cost of industrial production, which will lead to a predictable increase in goods and services.
