Arab FinanceThe regular general assembly of each of the Holding Company for Egypt Electricity and the Egyptian Electricity Transmission Company, bThe presidency of Dr. Mahmoud Esmat, Minister of Electricity and Renewable EnergyOn the approval of the opening financial statements of the two companies on 1/7/2024, after completing the separation process based on the balances shown by the financial statements of the two companies on 6/30/2024.
The General Assembly of the two companies decided to assign the administration’s councils in each company to quickly complete the established procedures in accordance with the report of the separation committee that was formed by the Prime Minister’s decision No. 1607 of 2024, including preparing the contracts of contracts necessary to control and govern the contractual relations between companies, in coordination with the Egyptian Electricity Transmission Company and the Electricity Facility Regulatory Authority and Consumer Protection.
The General Assembly approved the formation of the Board of Directors of the Holding Company for Egypt Electricity, within the framework of the decision issued by Dr. Mahmoud Esmat No. 63 of 2025, and in a related context, the extraordinary general assembly of the two companies approved the amendment of the articles of association for each of them, in line with the provisions of the Electricity Law No. 87 of 2015, its executive regulations and amendments, and the law of joint stock companies No. 159 of 1981 and its executive regulations and amendments, within the framework of completing procedures The Egyptian Electricity Transmission Company is separated from the Egyptian Electricity Holding Company
The decisions issued by the General Assembly of the two companies came as a culmination of the efforts made over the past months on the way to separate the Egyptian Electricity Company and start its work as a network operator and set clear, specific and comprehensive controls that ensure that the climate is prepared to attract private investments and open the way for the local and foreign private sector and encourage investment in the new and renewable energy fields, in light of the energy strategy and restructuring the Holding Company for Egypt Electricity And its subsidiary companies, and the commitment to the model approved by the association and ensuring the continuation and stability of the National Electricity Network in a manner that ensures the sustainability of electrical energy within the framework of the state’s plan for sustainable development
Dr. Mahmoud Esmat emphasized that the process of separating the Egyptian electricity transport company as an operator for the electricity transmission system is carried out according to economic and environmental standards that guarantee equal opportunities in a way that preserves the interests of producers and consumers of electricity and in a manner that achieves efficiency and stability, and helps to expand in pumping new investments and operating and contracting with subscribers within the framework of the controls and facilities provided by the Electricity Law and achieves the state's goals for sustainable development, pointing to the interest that The sector dates to occupy the private investment in its natural position in the fields of electricity and renewable energy, in light of the energy strategy that defined the central role of the private sector, especially in the field of renewable energies.
Dr. Mahmoud Esmat said that the separation of the Egyptian Electricity Transmission Company as an operator for the electricity transmission system comes within the framework of strengthening the state’s direction on the path of opening the electricity market and attracting the private sector to participate in electric energy projects to achieve the targets of integrated and sustainable strategy for energy until 2040, securing electrical energy supply, diversifying energy sources and maximizing renewable energy sources to reach 42% by 2030 and more than 65% by 2040.
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