100 businesses benefitting from reduced energy tariffs initiative

Head of the Major Industrial Initiative Committee at Etihad Water and Electricity Company (EWEC), Sheikha Murad Al Balushi, has announced that the initiative to reduce energy consumption tariffs has benefited 100 industrial establishments.

Launched under the Industrial Development Council, this initiative is a collaborative effort between the Ministry of Industry and Advanced Technology (MoIAT), the Ministry of Energy and Infrastructure (MoEI), and EWEC.

It aims to enhance the business environment and support manufacturing in Ajman, Umm Al Qaiwain, Ras Al Khaimah, and Fujairah.

At the World Utilities Congress 2024 in Abu Dhabi, Al Balushi revealed that the number of beneficiaries is expected to reach 150 by the end of 2026.

The initiative provides discounts ranging from 10 per cent to 26 per cent per kilowatt-hour, with a maximum discount of 26 fils per kilowatt-hour for factories consuming over 10,000 megawatt-hours monthly.

Announced during the third ‘Make it in the Emirates’ Forum in May 2024, this initiative aligns with the UAE’s National Strategy for Industry and Advanced Technology.

It aims to create a more attractive investment environment, drive growth, and promote sustainable development.

In addition to financial savings, the program helps industrial companies reduce operational costs, enhancing their competitiveness both domestically and internationally.

Benefits also include flexible installation fees and network connection services, with options to incorporate these fees into monthly payments or pay upfront for a 20 per cent discount. Participants are exempt from insurance fees and additional meter usage costs.