Egypt is prioritising the rationalisation of petroleum and electricity consumption while securing the financial resources necessary for energy imports to ensure national stability amid ongoing regional conflict, Prime Minister Mostafa Madbouly said on Wednesday.
Madbouly chaired a meeting with Minister of Electricity and Renewable Energy Mahmoud Esmat, Minister of Finance Ahmed Kouchouk, and Minister of Petroleum and Mineral Resources Karim Badawi to review measures for managing energy demand and mitigating the impact of regional developments on global energy markets and the domestic economy.
The Prime Minister stated that the government is monitoring the repercussions of the escalating regional events around the clock. He emphasised that raising the efficiency of the energy system and rationalising consumption are top priorities to ensure the stability of the economy and meet the needs of citizens and productive sectors.
“There is coordination and integration between the relevant ministries and authorities to provide the financial resources and operational requirements for the electricity and energy sectors,” Madbouly said. He added that this cooperation is intended to ensure the national electricity grid operates regularly to meet the requirements of the industrial and service sectors.
Minister of Electricity Mahmoud Esmat said his ministry is working to improve performance indicators and economic operation while promoting a culture of rationalisation. He noted the activation of inspection and quality control committees to maintain performance standards. Esmat added that there is ongoing coordination with government entities to apply consumption-saving measures in public buildings and facilities, alongside efforts to reduce the use of traditional fuels.
Finance Minister Ahmed Kouchouk said the ministry is securing the funding required to support vital sectors, particularly energy, to ensure the efficient delivery of basic services. He affirmed the ministry’s commitment to supporting the petroleum and electricity sectors’ efforts to enhance energy security through a sustainable vision, focusing on efficiency and the expansion of renewable energy sources.
Minister of Petroleum and Mineral Resources Karim Badawi highlighted efforts to meet the fuel requirements of power plants through natural gas and petroleum products. He confirmed that daily coordination is underway to monitor supply levels and take measures to bolster strategic fuel reserves, ensuring the power grid operates without interruption.
Badawi also reviewed mechanisms aimed at rationalising the consumption of petroleum products across various sectors. These measures are part of a state plan to reduce the national import bill and alleviate pressure on foreign exchange resources without affecting development requirements or citizen services.
Madbouly concluded the meeting by stressing the importance of the daily monitoring of global energy market fluctuations to take necessary measures to secure the state’s petroleum needs and bolster the national economy against current challenges.
