Fuel price ceilings to be set monthly under EMV — energy commission

AMMAN — Under the executive program of the Economic Modernization Vision (EMV) for 2023-2025, price ceilings for fuel derivatives "will not be fixed” and will instead be set on a monthly basis by the Energy and Minerals Regulatory Commission (EMRC), according to the commission.اضافة اعلان

Member of the EMRC board Wafa Bakhit said that the commission will determine the monthly price ceilings based on several variables “that are still under study", the Jordan News Agency, Petra, reported. For this to take place, a bylaw must be issued, and mechanisms and standards for monitoring the process must be established, she added.

The shift in the price ceilings mechanism seeks to boost market competition and falls under the sustainable resources policy, which aims to improve use and sustainability of Jordan's natural resources, Bakhit said.

In addition to the new price ceiling mechanism, the EMV executive program seeks to install solar cell systems in municipalities, supply industrial estates with natural gas, and conduct studies to identify storage solutions for renewable electric energy and implement regional power interconnection projects.


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