The Ministry of Electricity of Egypt has announced that it would raise electricity prices by 14.9% in the fiscal year 2019-2020 starting in July 2019. Prices for electricity consumers connected to the high-voltage network (industrial users) will rise by around 10%, while prices for lower voltage consumers - such as households and businesses - will increase by around 19%.
This price increase is part of measures taken to meet demands by the International Monetary Fund (IMF) for a US$12bn bailout loan signed in 2016 to support the government's reform plan. The country committed to reducing energy subsidies under the framework of the loan programme in 2016 and is now increasing prices in a raft of new tough economic reforms. Electricity prices rose by an average 30% in July 2016, by 40% in July 2017 and by 26% in July 2018. Electricity subsidies are expected to be fully phased out by June 2022.