Egyptera to announce new EV charging rates soon

Updated 8/5/2024 7:45:00 AM
Egyptera to announce new EV charging rates soon

Arab Finance: The Egyptian Electric Utility and Consumer Protection Regulatory Agency (Egyptera) will introduce new pricing for electric vehicle (EV) charging within a month, Al Arabiya reported, citing unnamed sources from EV charging companies.

These companies are advocating for an increase of over 42% from the current rates, which have been unchanged since February 2022.

The push for higher prices is driven by rising investment costs for setting up charging stations and the slashing EGP against dollar.

The current tariffs are putting financial pressure on electricity companies, as the subsidized electricity supply price for charging companies is EGP 1.21 per KWh, significantly lower than the production cost of EGP 2.2 per KWh.

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