Morocco to rebate electricity price by 20% for industrial plants

Electricity prices will be lowered in Morocco by 20% in 2010 for industrial units.

The announcement was made Tuesday by Moroccan Energy Minister Yussef Tahiri in an address before the chamber of advisors (the upper chamber of Morocco's Parliament).

The measure seeks to alleviate the energy cost burden for Morocco's industrial sector, Tahiri added, affirming that his department has set up an ambitious strategy to ensure the country's self-sufficiency in electricity.

To this end, the Moroccan minister said the state-owned "Office National de l'Electricite" (ONE) will invest $445 million in 1999 to boost the country's electricity output and expand power grids to rural areas.

The investment will also allow ONE to speed up its rural electrification program that seeks to supply annually 1,500 villages with power. If this electrification rhythm is maintained, the kingdom will cover 80% of the rural world by year 2006, he said.