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Egypt Raises Electricity Prices Due to Global Energy Crisis
Egypt increases commercial electricity prices by 20% and residential rates for high consumers, citing the Gulf conflict's impact on energy supplies. Cairo, April 5Egypt's Ministry of Electricity and Renewable Energy announced price hikes for commercial and residential electricity consumption effective this April, citing the global energy crisis triggered by the US-Israeli conflict with Iran. In a statement issued late Saturday (local time), the ministry said that the current "acute and unprecedented global crisis" across all energy resources, caused by the ongoing war in the Gulf region, has necessitated price increases for certain commercial and residential consumption tiers starting this month, reports Xinhua news agency.According to the statement, commercial consumption prices across various brackets will rise by an average of approximately 20 per cent.For residential consumption, prices for tiers consuming 2,000 kWh per month and above have been raised by an average of 16 per cent, while rates for all tiers below the 2,000 kWh threshold will remain unchanged.This decision followed a series of measures taken by the Egyptian government in response to the global energy situation.Austerity measures announced in late March included activating remote work systems, slowing the implementation of fuel-intensive mega-projects, and cutting fuel allocations for all government vehicles by 30 per cent.Additional measures included cutting business hours for shops, restaurants, cafes and malls as well as reducing street lighting and billboard illumination by one-third.Earlier on April 3, Egypt brought four new natural gas wells online in the Mediterranean Sea and the Western Desert as part of efforts to boost domestic energy output and curb its growing reliance on imports.The wells, located in the offshore West Burullus field in the Mediterranean and the Khalda fields in the Western Desert, are expected to produce a combined 120 million cubic feet of gas per day, the Ministry of Petroleum and Mineral Resources said on Friday.The additions come as Egypt grapples with soaring energy costs stemming from the regional conflict involving Iran, Israel, and the United States. Israeli natural gas, which typically accounts for nearly 20 per cent of Egypt's total consumption, has been cut off since US and Israeli strikes on Iran began on February 28.The government has been seeking to increase oil and gas output after a decline in natural gas production in recent years. In Augu...
Egypt raises electricity prices for higher and commercial consumption ...
The Egyptian Ministry of Electricity and Renewable Energy announced that the current severe and unprecedented global energy resource crisis due to the ongoing war in the Arabian Gulf region has necessitated the ministry's decision to increase electricity prices for certain commercial and residential consumption brackets, effective this April.
Egypt raises electricity prices amid global energy crisis
CAIRO, April 5 (Xinhua) -- Egypt's Ministry of Electricity and Renewable Energy announced late Saturday price hikes for commercial and residential electricity consumption effective this April, citing the global energy crisis triggered by the U.S.-Israeli conflict with Iran. In a statement, the ministry said that the current "acute and unprecedented global crisis" across all energy resources ...
Egypt hikes electricity prices from April amid global energy crisis ...
Egypt will increase electricity prices for some commercial and household consumption brackets starting in April due to a severe global energy crisis triggered by the ongoing war in the Arabian Gulf region, the Ministry of Electricity and Renewable Energy said on Saturday. The ministry stated that the increases will not affect the lowest household consumption brackets, which represent 40 per ...
