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FINANCIAL NEWS
Lebanon shuts down power plants on huge electricity consumption
26 Jun 2014
(MENAFN) Lebanese officials said that the country has already shut down some power plants to decrease fuel consumption as severe electricity rationing is expected to become a concern if fuel subsidies do not reach the required level, according to the Daily Star.
An official at the state-owned Electricite du Liban said: “So far we are producing 1,500 megawatts but the actual demand has exceeded 2,900 megawatts and this is due to the presence of 1.5 million Syrian refugees. If the Finance Ministry does not meet our demand to raise the allocations for fuel and gas subsidies then we have no other choice but to make further power cuts.”
She added that so far EDL has not yet expanded power rationing but admitted that two or three power plants have been temporarily shut down in order to limit the consumption of fuel oil and gas oil.
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