New industrial energy fees take effect 1 July

The Electricity and Energy Ministry raised energy fees for energy-intensive industries as of 1 July, according to sources speaking on condition of anonymity.

Energy prices have therefore risen 50 percent for such industries during peak consumption times, from 7:30 PM to 11:00 PM in the summer and from 5:00 PM to 9:00 PM in winter.

High energy consumption industries include factories for steel, cement, fertilizer, aluminum, copper and petrochemicals.

A World Bank report had earlier recommended hikes in electricity prices for home consumption as well, but the ministry decided to apply the increases to the industrial sector only.

The same sources also noted that the chief objective of the increases was not to raise revenue, but to reduce pressure on the national electricity grid.

Translated from the Arabic Edition.

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