Phnom Penh (FN), Nov. 21 – Cambodian Minister of Mines and Energy Keo Rattanak announced that the Royal Government has spent USD 130 million this year (2023) to reduce electricity prices in various sectors.
Keo Rattanak spoke during a press conference on "Mineral and Energy Policy in Cambodia" on Tuesday (Nov. 21) at the Sokha Hotel Phnom Penh.
"Electricite du Cambodge (EDC) has allocated a subsidy of USD 130 million to offset electricity prices in various sectors," Rattanak underscored.
The minister detailed special discounts, including a reduced rate of 480 riels per kilowatt hour for agricultural water pumping between 9 p.m. to 7 a.m. Additionally, special rates were introduced for animal husbandry processing in agriculture, provided the government handles the agricultural input processing.
Addressing the industrial sector, Rattanak outlined three-month special offers from October to December 2023, featuring a 10% discount for industries exceeding a six-month average of 100 kilowatt-hours and a 20% discount for night shift activities.
Explaining the temporary nature of the discounts, Rattanak stated, "We cannot offer such discounts indefinitely, as it could lead to bankruptcy. The step-by-step approach is crucial to maintaining financial stability."