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Abu Dhabi Departments Of Energy, Economic Development Consider Introduction Of Preferential Tariff Rates For Industrial Sector
Fakhir Rizvi 4 days ago Sun 13th January 2019 | 05:30 PM
ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 13th Jan, 2019) The Abu Dhabi Department of Energy and the Department of Economic Development are reviewing the electricity consumption rates of the industrial sector, to establish preferential tariffs based on specific economic criteria.
All segments of the sector will be reviewed, to place suitable tariffs and increase its contribution to the emirate’s GDP.
In an interview with the Emirates news Agency, WAM, Awaidha Murshed Al Marar, Chairman of the Abu Dhabi Department of Energy, said that the department is supporting programmes that aim to stimulate the industrial sector and investment in Abu Dhabi, and is promoting transparent pricing and the adoption of preferential tariffs, to make the sector more attractive to investors and achieve the integration and diversification of all economic sectors.
Al Marar pointed out that electricity consumption in the emirate increased by five percent, due to the continued growth of the industry and the petroleum and tourism sectors while noting that the local electricity sector is witnessing significant development in terms of production rates, which will help meet growing demand and urban and industrial expansion in the emirate.
The Abu Dhabi Department of Energy aims to reduce electricity tariffs in the local industrial sector, to encourage investment and achieve sustainable growth, by reducing dependency on traditional energy sources that are not environmentally-friendly.