Electricity Law

1. The Authority shall periodically review the electricity tariff for all consumer categories in a manner that reflects the actual cost price based on the energy prices approved by the competent agency, and in accordance with the subsidy determined by the competent committee, and shall submit the same for Board approval. 2. The Board shall approve the deficit resulting from the difference between the expected income of the electricity activity, which is estimated by the Authority on a commercial basis, and the actual income acquired from the approved tariff for a specific year. The Ministry of Finance shall pay the deficit, in agreement with the Board. 3. The licensee may, in accordance with the regulations and through direct negotiation, agree with another licensee or a large consumer on service prices different from the approved tariff. 4. The Authority shall, upon determining the tariff, take the following into consideration: a) Enabling the licensee to operate efficiently to fully recover his costs and achieve a reasonable return on the capital invested in the electricity activity. b) Observing State policies and directives. c) Providing incentives for the continuous improvement of the technical and economic efficiency and the quality of electricity service. d) Providing consumers with accurate information regarding the cost impact of their consumption patterns on the activities of the licensee. e) Applying non-discriminatory policies to consumer categories and consumers of the same category. f) Allowing agreement on a price different from the approved tariff in Electricity Law accordance with paragraph (3) of this Article. Chapter 6: Competition