Egypt secures summer grid stability without price hikes, says minister

Egypt's Minister of Electricity and Renewable Energy, Mahmoud Assmat, said the government does not intend to reduce electricity loads or cut power during the upcoming summer, Al Ahram reported on February 27. 

Assmat explained that the ministry had prepared in advance to handle higher temperatures and increased electricity consumption.

“The national electricity grid is now stronger and more flexible, capable of meeting the demands of citizens, as well as industrial and service sectors, without the need for exceptional measures,” he added.

Assmat stated that regular maintenance work and improvements to power stations are progressing according to an intensive schedule before the summer peak season begins. The minister confirmed that there are no current plans to raise electricity prices for consumers, given the government's awareness of the financial burdens on citizens.

The power sector is currently bearing financial losses of EGP 70bn ($1.45bn) due to the freezing of electricity prices for consumers, despite rising production costs and the Ministry of Finance's failure to cover the cost differences over the past three years. 

Assmat added that the ministry is in talks with the Ministry of Finance to recalculate the difference between production costs and sale prices and to work towards settling the outstanding dues.