Electricity rates will be slashed for some industrial companies in the Northern Emirates, authorities announced on Wednesday as part of a slew of projects aimed at boosting growth.
The Emirates Water and Electricity Company (Ewec) announced new pricing segments and a revised incentive structure that would reduce electricity rates for firms that reach a specific consumption limit.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
For those that consume more than 10,000 megawatt hours per month, the new tariffs start at 32 fils per kilowatt hour and could go as low as 26 fils per kilowatt hour, according to a report published on the state-run news agency Wam.
The new system also includes additional incentives, including:
- Flexible fees for installation services
- Exemption from insurance fees
- No additional fees for using the metre
Besides industrial companies, the new pricing structure will also apply to the technology sector, which will cover disaster recovery data centres (DRDs). These hubs provide critical backup facilities that can be used to rebuild and restore technology infrastructure when an organisation’s main data centre stops working.
The initiative was launched on Wednesday on the sidelines of the third session of the ‘Make in the Emirates’ forum.
The Ministry of Industry and Advanced Technology has been working with its partners to boost incentives and bolster the capabilities of companies in the industrial sector, said the authority’s undersecretary, Omar Al Suwaidi.
“The new reduced tariff for energy consumption in industrial companies is in line with the ‘Make in the Emirates’ initiative, which shall enhance the industrial sector’s contribution to the gross domestic product,” Al Suwaidi said.
Engineer Yousef Ahmed Al Ali, CEO of Ewec, said the launch of this initiative reinforces the utility company’s commitment to shaping a future that will see the energy sector drive industrial growth.