Egypt reduces electricity consumption: businesses switch to limited working hours

Egypt will introduce restrictions on the operation of shops, shopping malls and restaurants from March 28 due to rising energy costs.

This was reported by Bloomberg with reference to Prime Minister Mostafa Madbouly.

According to the new rules, on weekdays, retail outlets and catering establishments will work until 9:00 pm, and on weekends - until 10:00 pm.

The government also plans to turn off outdoor illuminated advertising, reduce the intensity of street lighting and shorten the working day in state institutions - most of them will finish work at 6:00 pm.

Separately, the possibility of partially transferring employees to a remote format is being considered to further reduce electricity consumption.

According to Madbouly, gas import costs have increased significantly: if previously they amounted to about USD 560 million per month, now they reach almost USD 1.65 billion.

The Prime Minister noted that the decisions are related to the rise in energy prices against the backdrop of the war with Iran and are temporary. The government plans to review the restrictions in a month.

What is known about the situation in the Middle East

On February 28, the United States and Israel launched attacks on Iran, which killed Supreme Leader Ali Khamenei and about 40 representatives of the military leadership. On March 8, Mojtaba Khamenei was elected the new Ayatollah.

Iran responded with strikes on American bases in Bahrain, Qatar, Kuwait and the UAE, as well as missile attacks on Israel. Some of the Iranian missiles and drones hit infrastructure and residential areas in Arab countries.

Amid the fighting, tanker traffic through the Strait of Hormuz, which transports about 20% of world oil exports, has almost stopped. This has increased the prices of oil, gas and precious metals.