Etihad Water And Electricity To Explore Discounted Electricity Tariffs For Industrial Customers In Ras Al Khaimah

Etihad Water and Electricity (EtihadWE) has entered into a Memorandum of Understanding (MoU) with the Investment and Development Office of Ras Al Khaimah (IDO). This agreement aims to explore the possibility of offering preferential electricity tariffs to industrial clients in the emirate. The signing ceremony was attended by Sheikh Khalid bin Saud Al Qasimi, Vice Chairman of IDO, and Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure.

The MoU is part of EtihadWE’s strategic initiative to bolster the industrial sector in the Northern Emirates. It sets the stage for negotiating a binding electricity bulk supply agreement (BSA) between EtihadWE and an entity nominated by IDO. Once finalised, this BSA is expected to provide eligible industrial customers in Ras Al Khaimah with access to reduced electricity rates through a bulk aggregation mechanism.

Yousif Ahmed Al Ali, CEO of Etihad Water and Electricity, expressed that this MoU highlights their dedication to supporting the industrial sector in the Northern Emirates. He stated, "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."

The collaboration is expected to bring significant advantages for industrial enterprises, their workforce, and consumers. It also promises benefits for local communities and the broader economy. This initiative reflects EtihadWE’s dedication to supplying energy while aiding national economic growth.

Mohammed Sultan Al Qadi, Managing Director of IDO, remarked on the partnership's significance. He said, "This collaboration reflects our shared commitment to supporting businesses and driving growth in Ras Al Khaimah. By exploring solutions that make energy more accessible and affordable, we aim to create meaningful opportunities for industries, their employees, and the wider community."

The agreement underscores a mutual commitment between EtihadWE and IDO towards enhancing business support in Ras Al Khaimah. By making energy more affordable and accessible, they aim to foster opportunities for industries as well as their employees.

The anticipated bulk supply agreement will enable eligible industrial customers in Ras Al Khaimah to benefit from discounted electricity rates. This initiative is designed not only to support businesses but also contribute positively to regional economic development.

The collaboration between EtihadWE and IDO signifies a strategic effort towards economic enhancement in Ras Al Khaimah. Through innovative energy solutions, both parties are committed to creating favourable conditions for industrial growth while benefiting local communities.

With inputs from WAM