Wednesday 30 Oct
Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy, announced that it's time for private investment to play a larger role in electricity and energy generation and distribution.
The Minister indicated that the
acceleration of the process of separating the Egyptian Electricity Transmission
Company as an independent operator of the electricity transmission system is
being undertaken in strict adherence to economic and environmental standards
that guarantee equal opportunities, while safeguarding the interests of both
electricity producers and consumers and achieving optimal efficiency and
stability. He emphasized that the energy strategy has clearly delineated a
significant role for the private sector, particularly within the domain of
renewable energy.
This aligns with the government's
efforts to open up the economy, attract investment, and promote renewable
energy. The Ministry of Electricity and Renewable Energy is working to
encourage investment in new and renewable energy sectors, following the energy
strategy and Electricity Law No. 87 of 2015. This law restructured the Egyptian
Electricity Holding Company and its subsidiaries, as well as the Egyptian
Electricity Transmission Company, and established a committee to oversee the
separation of the transmission company.
Dr. Essmat met with the members
of this committee, which includes the concerned authorities, in the presence of
Engineer Sabah Mashali, Deputy Minister, and Engineer Gaber Desouki, Chairman of the Egyptian Electricity
Holding Company, to follow up on the latest developments and executive measures
taken so far, as well as the mechanisms of work of the subcommittees to
finalize the procedures and their recommendations and implementation
mechanisms, and the obstacles facing the separation of the Egyptian Electricity
Transmission Company from the Egyptian Electricity Holding Company.
The meeting discussed the bases
and assumptions for separating the Egyptian Electricity Transmission Company
from the Egyptian Electricity Holding Company. The primary objectives are to
ensure the continued security and stability of the national electricity grid,
guarantee the sustainability of electrical energy, and facilitate the expansion
of the private sector in pumping new investments and engaging in operations and
contracting with subscribers within the framework of the controls and
facilities provided by the Electricity Law. Ultimately, the aim is to achieve
the state's overarching goals for sustainable development.
Dr. Essmat directed the committee to accelerate the separation of the Egyptian Electricity Transmission Company. He explained that they've analyzed different scenarios and chosen the best one, which includes separating the transmission company as a network operator and opening the door for private sector participation with clear regulations.
