{"id":28173,"date":"2018-05-30T09:29:11","date_gmt":"2018-05-30T09:29:11","guid":{"rendered":"https:\/\/v2.ecomnewsmed.com.ecn-01.ovea.com\/2018\/05\/30\/lebanon-oil-prices-may-affect-electricity-production\/"},"modified":"2020-08-11T11:33:11","modified_gmt":"2020-08-11T09:33:11","slug":"lebanon-oil-prices-may-affect-electricity-production","status":"publish","type":"news","link":"https:\/\/www.ecomnewsmed.com\/en\/2018\/05\/30\/lebanon-oil-prices-may-affect-electricity-production\/","title":{"rendered":"Lebanon: Oil prices may affect electricity production"},"content":"\nNowadays, a barrel of oil costs around\u00a070 euros,\u00a0indicated\u00a0the EDL official. But why? This increase may be related to geopolitical reasons, particularly after U.S. President Donald Trump withdrew from the Iran nuclear deal, on May 8, 2018.\nMeanwhile, the gap between electricity production (1,700 megawatts) and the actual consumption (3,300 MW) is significant, even alarming. Several factors could explain this increase in\u00a0electricity consumption.\nTo begin with, as the summer months begin, air-conditioners (AC) are widely used by companies, restaurants, and households. Furthermore, the country of Cedars welcome over \u201c1.5 million Syrians who consume 450W\u201d said the Official.\u00a0\u00a0\nAs a consequence, he declared that \u201cEDL will not operate additional power plant now if the prices of oil remain above 52 euros\u201d. On top of that, Lebanon does not buy electricity from Syria anymore, because of prices fluctuations: oil becomes expensive.\nBut what can be done? It appears that the Lebanese government\u00a0subsidizes fuel prices for EDL, since 1982. However, this system could lead to an increase in public spendings and structural deficits. Therefore, at the Conference (CEDRE) held in Paris, on April 6, 2018, Lebanon was encouraged to launch structural reforms, in order to enhance this issue, among others. In return, Lebanon received an aid of nearly 9.5 billion euros to reorganize its infrastructure and foster its economy.\nFinally, the\u00a0Lebanese government will\u00a0rent a third power barge, explains the Daily Star. This new barge provided by Karadeniz Holding would \u201cprovide an additional 200 MW of power\u201d. Energy\u00a0Minister, Cesar Abi Khalil, explained that the kilowatt-hour price would cost 4.3 euros instead of 5 euros, after negotiations.\u00a0\nDiscover out our latest videos about the economic news in Lebanon\u00a0:\n\n\n","author":80,"featured_media":5250,"comment_status":"open","ping_status":"open","template":"","tags":[5754,5752,5764,5763,5766,5751,5756,5755,5753,2961,5760,5750,5759,5762],"location":[5628],"class_list":["post-28173","news","type-news","status-publish","has-post-thumbnail","hentry","tag-business","tag-business-support","tag-communities","tag-direct-broadcasting","tag-economic-analysis","tag-economy","tag-employment","tag-employment-training","tag-entrepriseslife","tag-institutions","tag-mediterranean-exchanges","tag-news","tag-politics","tag-trending","location-lebanon"],"short_url":"","have_related_news":null,"chapo":"If oil prices keep going up, electricity rationing may not follow in Lebanon. Indeed, it could decelerate if oil prices continue to exceed nearly 52 euros, the Electricity of Lebanon (EDL) official told to the Daily Star.","media":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/03\/bulb3-1.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/03\/bulb3-1.jpg 550w","sizes":"550px","alt":"Lebanon: Oil prices may affect electricity production 1","width":550,"height":360,"ratio":0.67,"credit_photo":""},"media-news-header":{"src":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/03\/bulb3-1.jpg","srcset":"https:\/\/www.ecomnewsmed.com\/app\/uploads\/2020\/03\/bulb3-1.jpg 1170w","sizes":"1170px","alt":"Lebanon: Oil prices may affect electricity production 1","width":1170,"height":658,"ratio":0.67,"credit_photo":""},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Lebanon: Oil prices may affect electricity production - Ecomnews Med<\/title>\n<meta name=\"description\" content=\"Nowadays, a barrel of oil costs around\u00a070 euros,\u00a0indicated\u00a0the EDL official. But why? This increase may be related to geopolitical reasons, particularly\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ecomnewsmed.com\/en\/2018\/05\/30\/lebanon-oil-prices-may-affect-electricity-production\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Lebanon: Oil prices may affect electricity production - Ecomnews Med\" \/>\n<meta property=\"og:description\" content=\"Nowadays, a barrel of oil costs around\u00a070 euros,\u00a0indicated\u00a0the EDL official. But why? 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