Electricité du Liban must raise its rates

The recurring deficits of Electricité du Liban, which amounted to around $3 billion a year for more than two decades, are the main reason behind the massive indebtedness of the Lebanese state and, consequently, the financial and banking crisis that has continued for seven years, weighing heavily on the country's economic activity.EDL's accounts have regained a precarious balance over the past two years thanks to the increase in kWh rates introduced by the previous government. These rates, which remain in effect, are "slightly" progressive to minimize the impact of the increase on low-income households. It is surprising that this significant increase — from an average of 7 cents to 25 cents per kWh — passed with hardly any reaction. The public scarcely responded, and neither the previous government nor its energy...