Egyptian Cabinet plans to extend the subsidy period of electricity consumption prices until 2026, i.e. seven years after the deadline of the programme, a governmental source stated Sunday. The programme is scheduled to end in 2019.
He added that electricity ministry submitted three plans for the future of subsidies system to the Cabinet, explaining the current status of Egyptian energy sector.
The cabinet will approve and apply new prices on electricity consumption by the middle of July, the source said.
The source noted that there is a possibility that either the first three levels of consumption will be exempted from the increase; if not, the electricity prices restructuring programme will continue without exceptions.
The decision to extend electricity subsidy years is meant to ease the pressure on consumers with a full commitment to increase the prices starting from July of each year, the source added.
There are ongoing consultations between the prime minister and President Abdel Fattah Al-Sisi in regards to exempting the first three levels of consumption from the price increase and to apply the increase only to high use levels in order to maintain the price restructuring programme.
