Iran Economy NewsIran to boost electricity prices from December, Donya reports

Iran to boost electricity prices from December, Donya reports

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Bloomberg: Iran will start increasing electricity rates from December as part of a wider plan to phase out subsidies of prices for energy and food, Donya-e-Eqtesad reported, citing an unidentified Energy Ministry official.

By Ladane Nasseri

Nov. 7 (Bloomberg) — Iran will start increasing electricity rates from December as part of a wider plan to phase out subsidies of prices for energy and food, Donya-e-Eqtesad reported, citing an unidentified Energy Ministry official.

The official confirmed that Iranians will start receiving electricity bills with revised rates beginning next month, according to the Tehran-based newspaper. The new prices are not yet final, it reported.

Iran’s government plans to eliminate subsidies on fuel, electricity and basic consumer goods over five years, starting in 2010. The government has said it will pay grants every two months to compensate poor families for the plan’s inflationary effects.

Iranian officials have not announced when utilities and food prices will be increased or by how much.

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