Egypt’s Prime Minister Mostafa Madbouly declared during his weekly press conference on Thursday that there will be no return to load shedding or power cuts, while also outlining a range of other government initiatives, including investment plans and development projects.
He recent concerns regarding potential power cuts, reiterating the government’s commitment to ensure a consistent energy supply. He stated that there will be no further power cuts or load-shedding.
“We have secured more than $2.5bn to guarantee sufficient fuel supply for the summer,” he said, explaining that the government had initially allocated $1.18bn for this purpose but needed to increase the amount to ensure uninterrupted power.
He explained that the government is working to ensure a steady supply of fuel throughout the year, aiming to prevent the need for significant summer spending on fuel imports. Madbouly also mentioned the planned addition of 4 gigawatts of renewable energy (solar and wind) next year and the allocation of EGP 7bn to the Ministry of Electricity to improve the distribution and transmission network to accommodate the new energy sources.
