EtihadWE and Ras Al Khaimah IDO Partner to Explore Preferential Electricity Tariffs for Industrial Customers
Etihad Water and Electricity (EtihadWE) has signed a Memorandum of Understanding (MoU) with the Investment and Development Office of Ras Al Khaimah (IDO) to explore preferential electricity tariffs for industrial customers in the Emirate. The signing ceremony was attended by Sheikh Khalid bin Saud Al Qasimi, Vice Chairman of IDO, and H.E. Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure and Chairman of the Board of Directors of EtihadWE.
Promoting Economic Growth Through Competitive Energy Solutions
The MoU is part of EtihadWE’s broader strategy to support the industrial sector in the Northern Emirates. It sets the stage for negotiations on a binding Bulk Supply Agreement (BSA) that could allow industrial customers in Ras Al Khaimah (RAK) to benefit from discounted electricity rates through a bulk aggregation mechanism.
Eng. Yousif Ahmed Al Ali, CEO of Etihad Water and Electricity, commented:
"This MoU with the Investment and Development Office of Ras Al Khaimah demonstrates our commitment to supporting the industrial sector in the Northern Emirates. By exploring opportunities to provide more competitive electricity pricing, we aim to contribute to a positive business environment, fostering economic growth and job creation in the region."
He emphasized the broader impact, noting the benefits for industrial businesses, their employees, customers, and the regional economy, aligning with EtihadWE's mission to support national economic growth.
Driving Accessibility and Affordability
Mohammed Sultan Al Qadi, Managing Director of IDO, highlighted the significance of this collaboration:
"By exploring solutions that make energy more accessible and affordable, we aim to create meaningful opportunities for industries, their employees, and the wider community."
Next Steps
The partnership reflects a shared vision to enhance Ras Al Khaimah’s industrial landscape, positioning it as a competitive hub for businesses. The signing of the BSA, once finalized, is expected to deliver substantial cost savings for eligible industrial customers, contributing to the Emirate's long-term economic objectives.
