Egypt applies new energy prices for local industrial consumption
Eng. Sameh fahmy (Minister of Petrol) has pointed out that Re-pricing energy to the intensive energy consumption factories aim mainly to achieve the best possible use of the available energy resources, as well as declining subsidy rates gradually
Egytex News Desk
Egytex
In his comment about the new prices, Eng. Fahmy declared that energy subsidy during this year has recorded 43 billion Egyptian pounds, while recording 176 billion Egyptian pounds since the beginning of this century.
In his statement before the energy and industrial committee in Shura council, Eng Fahmy added that the new prices have been accepted by local factories. He referred that the increase of energy prices will be implemented gradually so that the price of cubic meter of gas will be offered to factories staring with 1.71 US dollars in 2007/2008, then rises to 2.18 US dollars in 2008/2009, and later rises to 2.65 US dollars in 2009/2010. It should be noted the current gas price for each cubic meter is 1 US dollar
Source: Al Akhbar
From the Egytex news archive, first published on 30 August 2007. Figures and names are as reported at the time.
