Minister of Electricity and Renewable Energy Mahmoud Esmat stated that rationalizing spending and maximizing returns from owned assets are top priorities. He noted that a working group has been formed to inventory and register assets owned by the electricity sector nationwide, as part of the state’s digital transformation plan.
He also pointed out that the former headquarters of the Hydropower Plants Authority has been converted into the new premises of the Electricity Utility Regulatory and Consumer Protection Agency. This came during the minister's field visit to the former building to inspect the utilization plan aimed at maximizing economic returns for the New and Renewable Energy Authority.
Esmat inspected the building's rehabilitation as the new regulatory headquarters under the National Energy Strategy. The move focuses on separating production, transmission and distribution to prepare the market for private sector involvement through efficient asset management.
Esmat listened to an explanation from New and Renewable Energy Authority Chairman Ihab Ismail regarding the utilization plan for the building which previously housed the dissolved Water Power Plants Projects Execution Authority. The minister noted the building currently hosts the Regional Center for Renewable Energy and Energy Efficiency.
He explained that following board approvals, it will serve as the regulatory agency headquarters to support market organization and private sector participation. He highlighted ongoing measures to qualify the electricity market and use idle assets as income sources.
Improving performance and achieving financial sustainability requires utilizing all available resources and assets across ministry subsidiaries.