Electricité du Liban (EDL) may reduce electricity production this summer if a budget shortfall isn't resolved, according to its Chairman Kamal Hayek.
The EDL requested LL2,800 million ($1.85 billion) in State subsidies in order to provide 16 hours of power to areas outside Beirut. But Parliament, in the 2018 State budget, allocated just LL2,100 million ($1.4 billion), when the cost of oil stood at $65 per barrel. The cost of oil has since climbed to $75 per barrel, which means powe...
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The EDL requested LL2,800 million ($1.85 billion) in State subsidies in order to provide 16 hours of power to areas outside Beirut. But Parliament, in the 2018 State budget, allocated just LL2,100 million ($1.4 billion), when the cost of oil stood at $65 per barrel. The cost of oil has since climbed to $75 per barrel, which means powe...
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