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The Egyptian Ministry of Electricity and Renewable Energy has announced the approval of a new tariff for household electricity consumption, which stipulates the stabilization of prices for the first consumption tier, while increasing prices for the remaining residential tiers by an average of 12%. This is part of the government's efforts to ensure the stability of electricity supplies and achieve financial sustainability for the energy system.

The ministry stated in an official statement on Friday evening that the new tariff aims to maintain the stability of electricity production, transmission, and distribution services, ensuring the continued provision of energy to consumers, while taking into account the ongoing support for lower consumption categories.

Continued Support for Low Consumers

The ministry clarified that the state bears approximately 100 billion Egyptian pounds (equivalent to about 1.9 billion dollars) annually to bridge the gap between the actual cost of electricity production and the prices paid by consumers. It added that the volume of support gradually decreases with increased consumption rates, as subscribers pay:

* about 25% of the actual cost when consuming 50 kWh per month.

* about 50% of the cost when consuming 300 kWh.

* about 60% when consuming between 500 and 600 kWh.

* about 88% of the cost when consuming between 700 and 1000 kWh.

The ministry indicated that families consuming up to 2000 kWh per month bear the full cost of electricity without any government support.

New Increases Following Previous Adjustment in April

The new increase comes months after the government's decision in April to raise electricity prices for high-consumption subscribers, as well as commercial activities, by rates ranging between 16% and 20%.

The government attributed this increase to the rise in global energy costs, against the backdrop of the war in the Middle East, which has led to a doubling of Egypt's fuel and energy import bills.

Pressures on the Energy Sector

The recent adjustment comes amid pressures facing the energy sector, following damage to one of the four floating gas units in Egypt due to a drone attack for which no party has claimed responsibility.

This incident forced the government to rely more on the higher-cost fuel oil (mazut) to operate power plants, coinciding with peak electricity demand during the summer, which ranges between 37 and 39 gigawatts.

The government believes that the tariff adjustment is part of measures aimed at maintaining the stability of the electrical grid and ensuring the continued provision of energy, while keeping the support umbrella directed towards lower consumption tiers, amid the increasing challenges facing the energy sector.