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Join on Telegram Rabat – Amid rising energy prices worldwide as a result of the war in Ukraine, Morocco has to date spent an additional MAD 25 billion ($2.5 billion) on fuel compared to 2021.
The county’s fuel bill will mount to MAD 47.7 billion, more than double the MAD 21 billion ($2.16 billion) the 2021 figure, according to Abderahim Al-Hafidi, the director of Morocco’s national office of electricity.
During a hearing at the chamber of representatives, the official explained that the fuel will make up 64% of the annual cost of producing electricity in 2022, against 44% in 2021.
Fuel prices have been breaking records over the past few months in Morocco, echoing the international trend.
Household electricity bills remained largely unchanged despite the rising cost of electricity production, Morocco’s National Office of Electricity and Drinking Water (ONEE) said earlier this month.
To keep Morocco’s energy market adequately supplied, the country’s government announced this year plans to import Liquified Natural Gas (LNG).
On Friday, Morocco’s energy ministry said the country is to receive its first shipment of LNG in the coming days.
The Moroccan government had announced plans to import LNG back in February despite the fact that such a move comes at a higher price tag.
The decision came after two electricity power plants shut down after Algeria terminated the Maghreb-Europe Gas pipeline. The two plants produced 10% of Morocco’s electricity.
To acquire LNG, Morocco opened an international tender for international suppliers and coordinated with Spanish authorities to process the LNG in Spanish facilities before sending the gas across the Mediterranean to Morocco using the Maghreb-Europe Gas pipeline.
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