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Nine steps taken to reform Egypt’s energy system

– Government decree issued in June 2014, restructuring the energy subsidization system and gradually raising energy prices by 2019.

– Repayment of US$5 billion owed to foreign partners.

– Speeding up and facilitating the presentation of new research and exploration agreements. 

– Amending exploration contracts and raising the price for purchasing crude oil from foreign partners.

– New tariffs for the purchase of energy from new or renewable sources.

– Facilitating land allocation for renewable energy projects.

– Amending the legislation on the New and Renewable Energy Authority to allow partnerships with the private sector.

– Cabinet approval of the final draft of the unified electricity law, with the aim of liberating electricity production and opening the door for the private sector.

– Forming a panel in charge of resolving financial disputes and adjusting financial transactions between the ministries of petroleum, electricity and finance.  

 

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