Egypt expects savings of $615 million after rising electricity prices

The recent increase in electricity prices will save around 30 billion Egyptian pounds (around $615 million) in Egypt's state budget for the 2024-2025 fiscal year. An official stated this to the "Asharq" information site on condition of anonymity.

This comes as the Egyptian government has increased electricity prices with rates ranging from 14 percent to 40 percent for prepaid household meters, as well as tariffs for the commercial sector from 23,5 to 46 percent and for industrial sector from 21,2 to 31 percent as of the beginning of September. The government has not yet announced the new increases. In his weekly press conference on Thursday, Prime Minister Mustafa Madbouli he simply said that the increase in the price of electricity was “slight”.