Lebanon raises cost of electricity for first time since 1990s — spokesperson

Power will now be priced at 10 U.S. dollar cents per kilowatt-hour (kWh) for the first 100 kWh consumed, and 27 cents per kWh for consumption above that, the spokesperson said. Power costs would be calculated in Lebanese pounds at the central bank's Sayrafa platform exchange rate, which sat at around 30,000 pounds per U.S. dollar Tuesday.

Lebanon's state power company Electricite du Liban (EDL) raised the price it charges for electricity for first time since the 1990s on Tuesday, an EDL spokesperson said. Power will now be priced at 10 U.S. dollar cents per kilowatt-hour (kWh) for the first 100 kWh consumed, and 27 cents per kWh for consumption above that, the spokesperson said.

Power costs would be calculated in Lebanese pounds at the central bank's Sayrafa platform exchange rate, which sat at around 30,000 pounds per U.S. dollar Tuesday. The price in Lebanese pounds was previously equivalent to roughly 1 U.S. dollar cent per kWh.