According to a statement released on Thursday, Egypt’s cabinet has approved a proposal to ration electricity in order to conserve natural gas, which would be diverted to the export market to produce foreign money.
Since Russia’s invasion of Ukraine in February, which increased global commodity prices, caused a decline in travel between the two countries, and increased borrowing costs, Egypt has had a severe foreign currency shortage.
The proposed proposal requires stores and malls to use fewer powerful lights and to maintain air conditioning at no lower than 25 degrees Celsius.
The message further said that after working hours, lighting must be turned off in government buildings and ministries. As well, less street lighting will be used.
The administration announced a six-month delay in the hike in electricity costs last month. The increased costs would have been extremely unpopular with a populace that has just been subjected to a number of tough austerity measures.
Mostafa Madbouly, the prime minister, stated on Tuesday that the administration aimed to cut the quantity of gas used to produce energy by 15%. He claimed that domestic power plants paid a fraction of what natural gas would sell for on international markets.
As the conflict in Ukraine intensifies, Europe has been looking for alternate gas suppliers to reduce its dependency on Russian gas.
Egypt’s natural gas supply increased quickly in late 2018, and the discovery of the largest field in the Mediterranean helped it transition from being a net importer to an exporter.
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