UAE: Introduces Reduced Tariff for Energy Consumption For Industrial Companies

News developments

UAE: Introduces Reduced Tariff for Energy Consumption For Industrial Companies

Emaratalyoum, 30 May 2024: The Federal Electricity and Water Authority has announced its latest initiative supporting industrial growth in the country, aimed at industrial companies and their services in the Northern Emirates.

This initiative involves launching a reduced tariff for energy consumption to enhance the competitiveness of industrial companies, in cooperation with the Industry and Advanced Technology Ministry and the Energy and Infrastructure Ministry.

The Undersecretary of the Ministry of Industry and Advanced Technology, has affirmed the ministry’s cooperation with partners to enhance incentives supporting industrial companies’ growth and competitiveness, aligning with the ‘Make it in the Emirates’ initiative.

The new tariff, applicable to industrial companies consuming over 10,000 megawatt-hours monthly, ranges from 32 to 26 fils per kilowatt-hour.

Additional incentives include flexible installation and grid connection fees, exemption from insurance fees, and no additional meter usage fees.

The CEO of the Federal Electricity and Water Authority, has emphasised the initiative’s role in shaping the energy sector as a driver for industrial and technological growth, facilitated by the partnership between relevant ministries and the authority.

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Tanya Jain