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"Egypt Power Report Q1 2013" Is Now Available at Fast Market Research

Fast Market Research recommends "Egypt Power Report Q1 2013" from Business Monitor International, now available


Boston, MA -- (SBWIRE) -- 03/01/2013 -- BMI View: Continuous and reliable supply of electricity is paramount for Egypt's socio-economic development, and a series of politically-charged electricity outages over summer 2012 has largely illustrated that power is a hot political issue for a government that is under pressure to improve the quality of public service provision. Yet, the challenge of ramping up supply is immense: not only does it require a re-prioritisation of natural gas feedstock away from exports and towards domestic consumption, but weak economic activity and political uncertainty are set to take a toll on the government's ability to channel investments towards the sector.

With economic growth hinging on the provision of adequate and reliable power to vital sectors (ranging from industry and agriculture to tourism and transport), the expansion of Egypt's electricity infrastructure is a key priority for the country. An ambitious power sector investment programme has been under implementation since 2002 -- aiming at additions of 7,000 megawatts (MW) and 11,850MW during the first (2002-2007) and the second phases (2007-2012); yet, power shortages over the summer period have fully displayed that the need to improve capacity has become an even more urgent policy priority for the new government of President Mohamed Morsi.

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In this regard, we reiterate our view that the state's long-term strategy for the electricity sector should be bifurcated; on the one hand, it needs to ensure more feedstock availability for existing and planned gas-fired generating capacity by prioritising domestic users. On the other hand, the government needs push for more diversification, increasing hydro and renewables capacities, given that nuclear remains off the near-term agenda.

Key trends and recent developments in the Egyptian electricity market appear indeed to suggest that the government is looking to pursue a privatisation and diversification strategy, with:

- TAQA Power, a branch of TAQA Arabia, announcing the start of the commercial operations of Egypt's first independent power plant in November 2012; and
- The New and Renewable Energy Authority reportedly sets to offer 7, 622sq km of land for private sector investors to begin work on energy development projects under a Build, Operate, Transfer scheme. The bid round would be held for investors to own the rights to construct wind energy stations on land in the Gulf of Suez (1,222sq km), West Nile (4,200sq km) and East Nile (2,200sq km) regions.

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