Egypt to Import $1.18 Billion in Energy to End Summer Power Cuts

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Egyptian Prime Minister, Mostafa Madbouly, announced on 25 June that the government will import mazut and natural gas worth approximately USD 1.18 billion (EGP 57.09 billion) to halt power outages across the country starting from the third week of July. Madbouly, who announced the news during an emergency press conference, extended apologies for ongoing power cuts, confirming that they will persist for three hours a day this week before returning to two hours daily next week. Madbouly attributed the extended power blackout to a 12-hour outage at a natural gas facility in a neighbouring supply country, which he did not specify. To combat increasing costs and cuts, the Prime Minister also revealed that all commercial shops will close at 10 PM except supermarkets and pharmacies. The Prime Minister highlighted that the government had initially planned to eliminate power cuts by the end of the year. However, following directives from President Abdel Fattah Al-Sisi, proactive measures are being taken to mitigate electricity interruptions during the summer. Madbouly concluded the timeline by confirming that plans are being made to reintroduce power load shedding by September when temperatures are expected to drop due…

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The post Egypt to Import $1.18 Billion in Energy to End Summer Power Cuts first appeared on Egyptian Streets.

Source: egyptianstreets