Prime Minister Mostafa Madbouly issued a decree to restructure the board of directors of the Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA).
Daily News Egypt obtained a copy of the decree which includes the new formation of the board of directors that will last for three years under the chairpersonship of the Minister of Electricity, Mohamed Shaker.
Mohamed Abdul Aziz was appointed as the chief executive of the agency, with the membership of the heads of the Consumer Protection Authority, the Egyptian Competition Authority, the Federation of Egyptian Industries, and the Federation of Egyptian Chambers of Commerce.
The new board also includes members representing the electricity sector, namely Osama Osran, deputy minister of electricity, Khaled Al-Destawy, a full-time member for electricity distribution companies, and Mohamed El-Sisi, head of the South Cairo Electricity Distribution Company.
The board includes other experienced members, namely Ragaey Attiya, Ahmed El-Sayad, former deputy chairperson of the National Investment Bank; Hatem Wahid, former head of EgyptERA, and Ahmed El-Hefny, former chairperson of the Egyptian Electricity Transmission Company.
In accordance with the prime minister’s decree, each member of the new board shall be paid an allowance for attending the board’s meetings as well as an annual bonus estimated by the prime minister.
EgyptERA is the only electricity regulator in Egypt, which is entitled to organising, monitoring, and supervising all activities related to electrical production, transmission, distribution, and consumption in order to ensure meeting local market needs at the most appropriate prices while preserving the environment.
Furthermore, EgyptERA is also responsible for the protection of electricity consumers and the issuance of the electricity tariff in Egypt. It also issues licenses for electricity transmission and distribution activities, as well as ensuring legitimate competition in the generation, transmission, and distribution of electricity in order to avoid monopoly.