Energy Minister Walid Fayad revealed on Sunday during an interview with Nharkom Said TV show on LBCI that the first stage of the electricity plan is to increase electricity feeding to 8 and 10 hours by extracting gas from Egypt and electricity from Jordan at the best prices, explaining that “gas is cheaper than the fuel oil that power plants operate today.”
The minister also confirmed that the first stage of the plan will be implemented in the spring, as they have received the most recent copy of contracts regarding Egyptian gas, indicating that obtaining financing from the International Monetary Fund is contingent on obtaining exemptions as well as the necessary funds from the IMF, and that the money provided will not be wasted.
He then stressed that the plan will benefit the Lebanese people, adding that the first stage is a practical and technical one with no political quarrels.
“Today, Lebanon gets three hours of electricity, which is provided through Iraqi fuel and costs $70 million per month,” Fayad pointed out, saying that “by the year 2023, we will have 17 hours of electricity.”
The second stage of the electricity plan, according to Fayad, is to run the Deir Ammar and Al Zahrani plants with gas rather than fuel oil via the Arab gas pipeline, and the third stage is to lay the groundwork for new power plants and to shut down Zouk plant, which has a negative impact on the economy and the environment.
Fayad further highlighted that we have an 18 percent technical waste problem, but that it can be reduced to 15% by 2026.
“The proposed plan relies 30% on gas and 70% on renewable energy, and the plan is built on geographic and regional diversity in solar energy installation,” he explained.