Cairo, April 5: The Egyptian Ministry of Electricity and Renewable Energy has announced an increase in electricity prices for both commercial and residential consumers starting this April. The ministry attributed this hike to the ongoing global energy crisis, exacerbated by the conflict between the United States, Israel, and Iran.
According to a report by Xinhua News Agency, a statement released late Saturday (local time) indicated that the severe global crisis affecting all energy resources due to the ongoing war in the Gulf region necessitated this price increase for certain categories of commercial and residential consumption.
The statement revealed that commercial consumption prices will rise by an average of approximately 20 percent. For residential consumers, prices for categories consuming 2,000 kilowatt-hours or more per month will see an average increase of 16 percent, while rates for all categories below this threshold will remain unchanged.
Earlier, on April 3, Egypt initiated four new natural gas wells in the Mediterranean and Western Desert to boost domestic energy production and reduce its growing dependence on imports.
The Ministry of Petroleum and Mineral Resources reported on Friday that these wells, located in the offshore West Burullus area and the Khalda regions in the Western Desert, are expected to produce a combined total of 120 million cubic feet of gas daily.
These new wells have been activated at a time when Egypt is grappling with soaring energy costs due to regional conflicts involving Iran and Israel. Israeli natural gas, which typically accounts for about 20 percent of Egypt’s total consumption, has been halted since February 28, following the onset of U.S. and Israeli attacks on Iran.
The ministry also announced plans to drill over 100 exploratory wells in 2026 to secure new energy reserves.
Last month, the Egyptian government implemented several measures, including allowing remote work, slowing down the execution of large projects with high fuel consumption, and cutting fuel allocations for all government vehicles by 30 percent. Additional measures included reducing operating hours for shops, restaurants, cafes, and malls, as well as cutting street lighting and billboard illumination by one-third.
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My name is Narendra Jijhontiya. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including TECHNOLOGY, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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