Egypt vows no power cuts this summer, cites gas supply boost

Egypt Independent

7 hours ago

Egyptian Prime Minister Mostafa Madbouly affirmed that the current summer will experience no load shedding or electricity cuts, a significant change from past years.
Speaking at a press conference on Wednesday, Madbouly stated that work is underway to integrate regasification vessels into operations by the first week of July, adhering to their scheduled timeline. This measure aims to secure the nation's natural gas requirements and ensure power generation plants receive adequate supplies.
He clarified that the deployment of three regasification vessels is a temporary solution until Egypt's full natural gas production capacity is restored.
Madbouly also noted that the electricity rationalization plan will continue, despite the crisis's resolution, emphasizing: 'There are measures to rationalize electricity consumption without resorting to load shedding.'
The Prime Minister further underscored the stability of the exchange rate amidst a noticeable improvement in the financial situation. He highlighted that local hard currency resources in May, marking the fourth consecutive month, were sufficient to cover the country's needs and expenditures.
Madbouly stressed Egypt's capability to secure these essential requirements independently, without relying on 'hot money.' He specifically refuted claims by some experts who, according to him, contend that the state still depends on such volatile funds.