Morocco’s energy bill sat at MAD 8.53 Billion by the end of January, marking a decline of 11.6% compared to the same period of the previous year, according to the Exchange Office’s latest monthly bulletin.
The rise in imports of energy products is primarily due to the drop in supplies of gas, oils and fuels by 26.1% due to prices declining by 8.3%, along with a drop in imported quantities by 19.4%, the Office explains.
The decrease in the bill is also attributed to the decline in imports of gas and fuel oils by 26.1% qt 3.67 MAD Billion, and that of other hydrocarbons by 15.7% at MAD 1.63 Billion. According to the same data, the total imports of goods has increased by 3.4% in one year reaching MAD 59.84 Billion.
Leila Benali, Minister of Energy Transition and Sustainable Development, declared at the House of Representatives earlier in January that a new energy efficiency approach could help Morocco save up at least 20% in energy consumption by 2030.
The energy minister has also repeatedly emphasized the importance of renewable energies, stressing the need for Morocco to invest in the green sector all while endowing its gas sector to account for the intermittency of renewables.
