Every Hour of Power Outage Costs Libya LYD 25 Million, Says Husni Bey

TRIPOLI – Libyan businessman Husni Bey estimates that every hour of electricity outages costs Libya’s economy over LYD 25 million in lost output and extra energy costs, warning that the power and fuel crises are driving inflation and eroding purchasing power.

In an interview with Ean Libya, Bey said rising prices can’t be blamed on traders alone, pointing to public spending, a weak dinar, money creation, energy shortages and high import costs. Outages hit twice , businesses lose production while households pay more for generators, which are costlier and less efficient than central gas plants.

He challenged the idea that electricity is free, estimating the true cost at about LYD 3,300 a month for a six-person household once state costs are counted. “There is no such thing as free electricity,” he said , only a bill paid by the consumer or hidden by the state in the budget. The same applies to subsidised fuel.

Bey urged treating electricity reform as anti-inflation policy, calling for tighter spending, subsidy reform, reliable gas-fired power, and better metering. He said Libya has real potential in manufacturing, food processing and logistics , but only with stable electricity and predictable policy, and backed shifting from commodity subsidies to direct cash support.

“When the electricity goes out, we pay three times,” he said , for the grid, for generators, and in lost production.