The Cabinet will ratify electricity price hike within days, Minister of Electricity and Renewable Resources Ahmed Shaker said, adding that it would be progressively imposed on all consumer brackets. Electricity subsidy currently stands at EGP39bn, while it should have been EGP20bn, according to the current fiscal year (2016/17) budget, Minister explained. We believe the weaker USD-EGP diminished the savings in local currency, especially that the government started importing natural gas late last year. We note the news comes contradictory to earlier indications that only the upper consumer brackets would see a price increase. The potential increase will be the third in the past three years as the government undertakes a plan to phase out electricity subsidies. (Al Borsa, Mohamed Abu Basha)