Bloomberg: Gas-Starved Factories Pay a Price as Egypt Keeps Lights On

As Egyptian industrialist Moataz Al Alfi enjoys the chilly blast from his air-conditioning -- the first time in three summers his Cairo home has had a reliable electricity supply -- he knows the improvement is coming at the expense of his fertilizer plants.

The government has taken “a sovereign decision that it’s more important to generate electricity” for households than provide energy to factories, Al Alfi, chairman of Egypt Kuwait Holding Co., said in an interview. While that’s been true to some extent since 2011, it’s “much worse” this year, he said.

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