The Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA) is looking to amend electricity prices provided by the New and Renewable Energy Authority (NREA) to the Egyptian Electricity Transmission Company (EETC).
The prices are expected to increase by about EGP 0.7-0.15/kwh, amid controversy that the private sector sells electricity at prices that exceed EGP 1/kwh.
The price of electricity provided by the NREA to the EETC had been set at EGP 0.61/kwh for the period between June 2020 and July 2021.
These prices are only applied to the authority’s existing projects and are not applicable to new projects.
Naeem Research sees that this could come as good news for new and renewable energy producers, including those that produce solar and wind energy.
The same is expected to have no impact on existing producers, including the three solar assets MMID, BSEP and Phoenix, owned by B Investments through Infinity Solar, which is 12% owned by the former. This comes as the agreements are based on a fixed price basis.
