Egypt raises household electricity prices by up to 50%

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Arab Finance: The Egyptian government has raised household electricity prices by a range from 14.5% to 50%, government sources told Reuters.

The price increase was applied to the prepaid meter system as of August 17th, and would be applied to regular meters starting October 1st, a source at the Ministry of Electricity said.

Earlier this month, it was reported that the Ministry of Petroleum and Mineral Resources received the 10th shipment of the 21 agreed-upon liquified natural gas (LNG) to meet the state’s demands for power plants and fertilizer factories.

It is worth noting that Egypt is reportedly planning to import up to 17 new shipments of LNG during the fourth quarter (Q4) of this year.