The Ministry of Electricity’s dues owed by the Holding Company for Water and Waste Water (HCWW) have jumped to EGP 7.8bn, sources from the ministry said.
The sources at the Ministry of Electricity revealed that they had addressed the officials of the HCWW by paying part of the debts and committing to pay the monthly consumption bill.
Governmental sources pointed out that settlements will be reached with some ministries to settle their dues and some will be given opportunities and facilities to ensure the payment of their obligations to electricity companies suffering from high debts to other parties, especially the Ministry of Petroleum, the National Investment Bank, and a number of Arab and international funding bodies.
The sources said that the nine electricity distribution companies spent EGP 2bn within one year to develop and maintain the electrical network, financed by their own resources, under the emergency programme which was implemented to reduce breakdowns and power cuts.
In addition, the companies implemented a plan for upgrading the efficiency of the network and installation of modern devices to detect faults and protect components from high temperatures during the summer months, and these investments enabled the sector to address many of the problems with networks, especially in remote areas and rural ones in the Nile Delta.