Egypt raises electricity prices for higher-use households, businesses

Egypt has raised electricity prices for higher-use residential consumers and commercial users starting in April, the electricity ​ministry said on Saturday, citing a severe global energy ‌crisis linked to the war in the Gulf region.

The move is the latest in a series of steps by the government to curb energy use ​and contain mounting fiscal pressure as higher import costs strain ​the finances of the Arab world's most populous country.

In ⁠a statement, the ministry said lower-consumption households would be shielded ​from the increases, which would be limited to higher-use segments and commercial ​users in an effort to maintain electricity supplies across the residential, commercial and industrial sectors.

It said electricity prices for residential consumption bands of up to ​2,000 kilowatt-hours per month would remain unchanged, while tariffs for higher ​residential brackets would rise by an average of 16%. Commercial electricity prices across all ‌brackets ⁠would increase by an average of about 20%, it added.

Prime Minister Mostafa Madbouly said in March that Egypt's energy import bill had more than doubled since the war involving the United States, Israel and ​Iran began, forcing ​the government to ⁠raise fuel prices, increase public transport fares and slow some state projects to ease pressure on public ​finances.