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Egypt will stop collecting cleaning fees on electricity bills starting July - Daily News Egypt

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Egypt will stop collecting cleaning fees on electricity bills starting July

Egypt Sovereign Fund is still selecting a consultant for the evaluation of Siemens power plants


The Ministry of Electricity has decided to stop collecting cleaning fees on electric bills starting July.

Mohamed Shaker, Minister of Electricity, said that distribution companies would continue to collect cleaning fees until June consumption bill. They shall be removed from the bill in July, he added.

Shaker said during his speech in parliament Monday that he made several requests for the cabinet to stop collecting cleaning fees on the electricity consumption bills, especially as it is not within the scope of the ministry’s work, and causing problems in collection and supply for the relevant authorities.

He emphasised that the total cleaning fees in the last fiscal year amounted to EGP 1.1bn, including EGP 566m supplied to the provinces and localities, and the rest were not collected with electricity bills, and thus became indebted to the electricity companies.

With regard to the problems of high electric bills, Shaker stressed that prices are announced and consumption is calculated based on the established tariff, and within the framework of the ministry’s keenness to respond to consumers and to avoid any mistakes. The unified readings programme will be generalised this year, which is now being provided to some 4 million subscribers.

Shaker told Daily News Egypt that the subsidy allocated to homes in the current fiscal year reached EGP 36bn.

He noted that the executive regulations for installing coded metres is next month, and upon approval, distribution companies would receive requests for installation.

He said that Egypt’s sovereign wealth fund is still selecting a consultant to evaluate the Beni Suef, Burullus, and the New Administrative Capital power plants.

Egypt’s sovereign fund plans to obtain a 30% stake in the three power plants, currently owned by German company Siemens. As of now, six international investors have expressed interest in managing and operating the three power stations, along with the direct investment fund Actis providing a letter of intent to acquire one of the Siemens stations put up for sale by the government.

The chosen consultant will undertake the review of documents and contracts in order to assess the cost of the stations. All this comes in preparation for foreign companies to invest and buy shares in these stations.

Topics: bills electricity

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https://wwww.dailynewssegypt.com/2020/01/13/egypt-will-stop-collecting-cleaning-fees-on-electricity-bills-starting-july/
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