Besides
the
positive
effect
a
higher
rate
of
price
increase
will
have
on
the
project’s
NPV
there
is
also
the
effect
of
the
new
Elec-
tricity Law. In fact this law imposes higher electricity tariff on all
industrial customers by gradually removing the subsidies on elec-
tricity
starting
in
the
first
phase
with
the
large
industrial
customers
(over the period 2011–2014) and then followed by medium sized
industries in the second phase (from 2014 to 2017) and by 2020
all
customers
categories
should
be
subject
to
unsubsidized
prices
[41].
Accordingly
under
unsubsidized
electricity
price,
the
invest-
ment in the wind project will prove to be even more financially
sound then Scenario two and three as any assumed annual rate of
increase should take effect in the future on higher prices than the
price used in this financial analysis (33.4 piaster/kWh) which is a
subsidized price.