Egypt's Electricity Minister Dr. Mahmoud Essmat revealed that the Ministry of Electricity and Renewable Energy has achieved significant savings through its cooperation with the Ministry of Petroleum and Mineral Wealth. The minister stated that the two ministries have been working closely to optimize fuel consumption in power generation, resulting in substantial financial savings. This development was announced during a seminar organized by the National Press Authority.
According to Dr. Essmat, the savings of $30 billion were achieved through the implementation of an integrated strategy to obtain the optimal fuel for operating power plants and improve their efficiency. The minister emphasized that these savings are a direct result of the ongoing coordination and cooperation between the Ministry of Electricity and the Ministry of Petroleum. This strategic approach aims to reduce the financial burden on the state while ensuring a stable and reliable power supply.
The Egyptian government is committed to reducing its reliance on fossil fuels and increasing its use of renewable energy sources. Dr. Essmat highlighted that the ministry is working to integrate more renewable energy capacities and the El Dabaa nuclear power plant into the grid, which is expected to yield additional savings in natural gas consumption. The minister cited estimates that the use of these new capacities between 2026 and 2030 could save between $13.786 billion and $40.21 billion in natural gas consumption.
The Egyptian state is providing significant support for the development of renewable energy, with a financing package of over $190 billion allocated for this purpose. The government has also allocated large areas of land for the establishment of renewable energy projects, which is expected to contribute to the sustainability of electricity services and reduce dependence on traditional fuels in the future.
Dr. Essmat emphasized that the ministry is committed to reducing electricity losses and preventing power outages. He noted that the ministry is working to upgrade the national grid and implement measures to reduce the strain on the network during peak hours. The minister also highlighted the importance of public awareness and cooperation in reducing electricity consumption and preventing waste.
The Ministry of Electricity is also working to combat electricity theft, which is a significant challenge for the sector. Dr. Essmat stated that the ministry has recorded $15.89 billion in value of electricity theft cases. The minister emphasized that the ministry is determined to crack down on those who steal electricity, which puts a strain on the network and causes losses for the state.
The Egyptian government is committed to developing the energy sector and improving its efficiency. The Ministry of Electricity is working to implement a comprehensive strategy to develop the sector, including the use of renewable energy sources and the improvement of power plant efficiency. The minister emphasized that the sector's development is crucial for the country's economic growth and stability.
Key points
- Egypt's Electricity Minister Dr. Mahmoud Essmat announced $30 billion in savings through cooperation with the Ministry of Petroleum.
- The savings were achieved through the implementation of an integrated strategy to obtain the optimal fuel for operating power plants and improve their efficiency.
- The Egyptian government is committed to reducing its reliance on fossil fuels and increasing its use of renewable energy sources.
