Speaking on the sidelines of the ministerial meeting of the 21st General Conference of the African Power Utilities Association (APUA), the minister confirmed that electricity prices will be reviewed based on actual costs in order to determine the new pricing structure.

Esmat noted that electricity subsidies amount to nearly EGP 170 billion.

The ministry, in cooperation with its partners, is working to maximize local production from various energy sources in order to increase the share of renewable energy in the energy mix to around 42% by 2030 and more than 65% by 2040.

He pointed out that Egypt's electricity sector receives around 110 million cubic meters of gas daily, priced at $4 per million British thermal units (MMBtu), while the actual cost to the Ministry of Petroleum exceeds $7.

According to the minister, the Ministry of Electricity is working to enhance energy efficiency measures, aiming to reduce consumption across all sectors by up to 18% by the year 2040.

He also stressed the importance of continuously "supporting the electricity grid," alongside financing from donors for energy technologies and connecting energy sources to the national grid with the help of the private sector.