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UAE agrees to reduce electric power consumption fees for industries

The reduced tariff for electricity consumption on the industrial sector, approved by the UAE cabinet, will come into effect in the last quarter of this year

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Reduction in electricity tariffs is expected to boost industry growth in the UAE
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Reduction in electricity tariffs is expected to boost industry growth in the UAE

The UAE Cabinet, chaired by Sheikh Mohammed bin Rashid Al Maktoum, the Vice President, Prime Minister and Ruler of Dubai, has adopted a resolution to support the industrial sector by introducing reduced fees of electricity consumption for large, medium and small factories.

“We launched today an initiative to support the industry sector and to affirm UAE’s position on the global map as an attractive investment destination that provides an integrated environment for growth and sustainability,” Sheikh Mohammed bin Rashid said.

“We are investing in a sustainable industrial sector through the collaboration between different government entities and our goal is to be a successful model for the green economy to preserve our environment for future generations,” he added.

The initiative introduced a reduced tariff for electricity consumption for the industrial sector, to be in effect as of Q4 of this year, while achieving sustainable growth by reducing dependence on non-environmentally friendly sources such as liquid fuels.

Large factories will be supported by reducing the electricity consumption charges by 29 percent, while the small and medium factories will have reduced fees by 10 percent to 22 percent, in addition to waiving the service connection fees for new factories.

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