Written by: Fatima Younis
The Media Center of the Cabinet issued a clarifying statement to deny the validity of circulating statements attributed to the Prime Minister regarding a decision to implement power load shedding for periods ranging from six to eight hours daily. The statement stressed that the information being circulated consists of statements taken out of context and are inaccurate.
Clarifying the Context of the Prime Minister's Statements
The clarification pointed out that the remarks attributed to Dr. Mostafa Madbouly, the Prime Minister, came during his participation in a session titled "The Journey of Egyptian Energy: National Achievements and Future Prospects." The purpose of the intervention was to review a set of scenarios and strategic options proposed to deal with the challenges of rising global energy prices, without including an announcement of actual decisions regarding load shedding.
Scenarios for Dealing with Rising Energy Costs
During the session, the Prime Minister reviewed three main scenarios to address the increase in energy costs. The first scenario involves burdening citizens with the full increase in cost, an approach adopted by many developed and developing countries alike. As for the second scenario, it is based on the state bearing the full increase in costs, a path that depends on the availability of necessary financial resources or the need to borrow to cover these financial burdens.
Challenges in Meeting Energy Needs
Regarding the third scenario, the Prime Minister explained that it relies on maintaining the current financial allocations specified in the budget, while purchasing petroleum products according to new prices and within the limits of available resources only. He noted that this option may lead to meeting about 50% to 60% of citizens' needs, which may impose in the future the necessity of taking more difficult measures, including the possibility of power load shedding for specific periods.
