Ras al Khaimah, UAE: 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 the potential for providing preferential electricity tariffs to industrial customers in the Emirate. The MoU was signed in the presence of Sheikh Khalid bin Saud Al Qasimi, Vice Chairman of Ras Al Khaimah’s Investment and Development Office, and H.E. Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure and Chairman of the Board of Directors of Etihad Water and Electricity.

The MoU forms part of EtihadWE’s strategic programme to support the industrial sector in the Northern Emirates and formalises the parties’ intention to negotiate a binding electricity bulk supply agreement (BSA) between EtihadWE and a nominee to be designated by IDO. It is expected that the BSA, once signed, will provide eligible industrial customers in Ras Al Khaimah (RAK) with access to 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.”

“This has clear benefits for industrial businesses, their employees, and their customers; as well as for communities and the wider economy. This is a reflection of EtihadWE’s commitment to providing energy and supporting the growth of the national economy.”

Mr. Mohammed Sultan Al Qadi, Managing Director of the Investment and Development Office of Ras Al Khaimah, stated: “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.”

About EtihadWE:

EtihadWE was established in 2020 under the Federal Decree-Law No. (31) of 2020 to carry out the duties assigned to The Federal Electricity & Water Authority at that time. It is wholly owned by the Emirates Investment Authority and is mandated to meet the needs of the northern emirates of electricity and desalinated water. EtihadWE seeks to become global leader and achieve the highest levels of excellence in the field of services it provides, achieve sustainability, reduce waste in natural resources, launch institutional initiatives aimed at supporting economic sustainability and preserving the environment, in addition to fulfill its social responsibilities.
EtihadWE boasts an exemplary record of uninterrupted water and power supply with a network that includes 8,000 kilometers of water pipelines, 15,000 kilometers of power lines; and a water storage capacity of about 600 million gallons.

About The Industrial Tariff Initiative:

In May 2024, Etihad Water and Electricity, in partnership with the Ministry of Industry and Advanced Technology and the Ministry of Energy and Infrastructure, announced the revised “Industrial Tariff Initiative” aimed at reducing energy tariffs to empower local businesses in the region.
The Industrial Tariff Initiative offers lower electricity tariffs for industrial customers and Disaster Recovery Data Centres who reach specific energy consumption thresholds. Under a revised tariff, new pricing bands have been introduced for industrial customers with monthly consumption above 10,000 MWh, with tariffs starting from 32 fils/kWh down to 26 fils/kWh. It also provides more favourable connection fees that can take the form of either a flexible monthly network usage fee or a reduced upfront payment of 20% of the standard connection fees. It also includes a security deposit waiver for all customers of the scheme, no surcharge over the rates, and no additional meter rental charges.

About the IDO

The IDO was established in 2004 by Emiri decree and acts as one of the main pillars of the economic and social development of Ras Al Khaimah, aligned with the national agenda of the UAE. The IDO invests and manages assets for the long term on behalf of the Government of Ras Al Khaimah, driving the economic transformation of the Emirate into a diversified and globally competitive economy.