Forecasts presented by the Director General of the National Office of Electricity and Drinking Water of Morocco, Abderrahim Al-Hafidhi
The Director General of the National Office of Electricity and Drinking Water of Morocco (ONEE), Abderrahim Al-Hafidhiexpects the cost of fuel and electricity imports to increase by more than 100% in the current year, in line with rising energy prices around the world.
Quoting al-Hafidhi, the Moroccan News Agency said the estimated cost of fuel and electricity imports in the current year amounted to 47.7 billion dirhams ($4.9 billion). ).
According to the official, the total value of the kingdom’s fuel and electricity bill, on average over the past four years, was 21 billion dirhams ($2.16 billion) per year.
Crude oil and natural gas prices have recorded rapid increases since the beginning of this year, exacerbated by the Russian-Ukrainian war.
The average price of a barrel of Brent in morning trading on April 14 was $105, an increase of 70% year-on-year.
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