Egypt raises most household power tariffs by average 12%

The ministry said it ⁠approved the new accounting tariff "in a bid to ensure the stability ​of power supply and the financial sustainability" of Egypt's electricity and ​renewable energy network, covering production, transmission and distribution.

Egypt covers roughly 100 billion pounds a year ($1.9 billion) to bridge the gap between production costs and consumer tariffs, ​with the state subsidy share shrinking as household consumption increases.

Customers pay ​25% of their bill at 50 kWh monthly usage, rising to around 50% ‌at ⁠300 kWh, roughly 60% at 500-600 kWh, and 88% for usage between 700-1,000 kWh. Households consuming 2,000 kWh pay the full cost with no subsidy, according to the ministry.

Egypt had raised electricity prices ​for higher-use residential consumers ​and commercial ⁠users in April by an average of 16-20%, citing a global energy crisis linked to the war in ​the Gulf region, which more than doubled Egypt's energy ​import bill.

The ⁠recent increase follows an unclaimed drone attack that caused damage to one of Egypt's four Floating Storage Regasification Unit (FSRU), prompting the government to switch to ⁠using ​the pricier fuel oil at a time ​of peak summer demand of about 37-39 GW.

(1 Egyptian pound = $0.02)