Egypt likely to collect EGP 500M in fines for late electricity bill payments
Updated 9/4/2024 7:59:00 AM
Arab Finance: The Egyptian Ministry of Electricity expects to raise around EGP 500 million from the recently applied 7% fine on overdue electricity bills in fiscal year (FY) 2024/2025, sources at the ministry told Al Arabiya Business.
The 7% fine will be applied to those who delay paying their monthly electricity bills, starting with the September consumption bill.
If a consumer fails to pay the overdue bills for three consecutive months, they will receive a warning and their meters may be removed.
To restore service, they will be required to pay all outstanding dues and fines, as well as new installation fees.
The fine applies to all subscribers, with households and shops being the largest groups, accounting for 86% and 11% of Egypt’s 40.7 million electricity subscribers, respectively.
The ministry has instructed electricity bill collectors to ensure regular visits to avoid imposing fines due to late payments.
Consumers who experience irregular visits from collectors can pay their bills through electronic payment outlets across the country, the sources asserted.
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