Cairo on 2 January announced hikes to electricity prices for household and commercial users with effect from 1 January. This represents the first price hikes since the start of the 2021-22 financial year (i.e July 2021 – see table), with authorities seemingly waiting until President Sisi’s reelection last month to roll out the new price increases (MEES, 15 December 2023).
Egypt Power Price Hikes Lag Inflation
Egypt has raised electricity tariffs for the first time in two and a half years. Though 10-15% hikes look chunky, soaring inflation means real-term prices remain well below 2021 levels. Despite taking flack from the IMF for the mounting defacto subsidies, Cairo held off from making the politically-unpopular hikes until the reelection of President Sisi had been assured. Talks with the IMF for a much-needed additional loan on top of the $3bn secured in late 2022 are now set to continue.
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Egypt Electricity Tariffs: Nominal Price Hike Fails To Keep Up With Collapsing Currency
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