Reduced electricity rates announced for some companies in industrial sector

Reduced electricity rates

Authorities in the Northern Emirates have announced a significant reduction in electricity rates for select industrial companies, aiming to spur growth. The Emirates Water and Electricity Company (Ewec) unveiled a new pricing structure with lower rates for firms exceeding a certain consumption threshold. Under the revised system, companies consuming over 10,000 megawatt hours per month will benefit from reduced tariffs, starting at 32 fils per kilowatt hour and potentially dropping to 26 fils per kilowatt hour. Additionally, the initiative offers flexible installation fees, exemption from insurance charges, and no additional costs for meter usage. This incentive scheme extends beyond traditional industrial sectors to encompass the technology industry, specifically disaster recovery data centers (DRDs), vital for restoring technology infrastructure during disruptions. Launched alongside the 'Make in the Emirates' forum, this initiative aligns with the Ministry of Industry and Advanced Technology's efforts to enhance industrial capabilities and contribute to the country's gross domestic product (GDP). Omar Al Suwaidi, the ministry's undersecretary, emphasized the initiative's role in advancing the industrial sector. Yousif Ahmed Al Ali, CEO of Etihad Water and Electricity, highlighted the utility company's commitment to fostering industrial growth and shaping a sustainable energy future.