Electricity prices increased, effective Jan. 1, 2024

The Egyptian Electricity Holding Company announced new electricity prices for the first time since 2021, effective January 1st, 2024.

The announcement comes soon after the government’s decision to raise Metro prices, Telecom Egypt's increasing household internet prices, and mobile companies disclosing to customers new pricing schemes.

Residential electricity consumption brackets, starting Monday, are now set as follows: households consuming within the 0-50 kWh consumption bracket will pay LE 0.58 per kWh, consumers of between 51-100 kWh will pay LE 0.68 per kWh, and those using 101-200 kWh will pay LE 0.83.

Residential homes consuming between 201-350 kWh will pay LE 1.25, while those using between 315-650 kWh will pay LE 1.40.

Commercial consumption prices were increased as well, with commercial electricity users consuming between 0-100 kWh will pay LE 0.65 per kWh, 0-250 kWh will pay LE 1.36, while users of 0-600 kWh will pay LE 1.50.

Those in the fourth consumption bracket (601-1000 kWh) will pay LE 1.65, with those using more than 1000 kWh will pay LE 1.8 per kilowatt.

The price adjustments are within the government’s efforts to reduce power subsidies. As inflation and prices soared during the pandemic’s peak, the government has postponed increasing prices since 2021 to protect citizens.

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.