Egyptian Prime Minister Mostafa Madbouly has formally announced the end of the country’s electricity outage crisis.
In a press conference held on Thursday, the Prime Minister assured that there will be no more power cuts.
Madbouly has also put an end to the ongoing debate regarding the potential reintroduction of load shedding after the summer period, during which such measures were temporarily halted to ease the burden on citizens.
During the press conference, Madbouly also revealed that the government has allocated $2.5 billion to ensure uninterrupted power supply throughout the summer. He emphasized the need for additional investments in the coming period to maintain this stability.
The Prime Minister highlighted the government’s commitment to long-term solutions, stating that by next summer, the country will be able to avoid the exorbitant costs associated with maintaining the current energy supply.
He announced plans to add 4 gigawatts of new, renewable energy to the national grid and to invest 7 billion Egyptian pounds in upgrading the electricity network. Additionally, Egypt will be connecting its electricity grid with Saudi Arabia to facilitate the exchange of power during peak demand periods.
