Abu Dhabi’s Electricity Tariff Incentive Program (ETIP) will allow companies to reallocate savings and achieve growth, the chairman of the emirate’s Department of Economic Development (ADDED) has said.
The launch of the tariff - in line with the Abu Dhabi Development Accelerators Programme ‘Ghadan 21’ – was launched during the recent Private Sector Forum.
H.E. Saif Mohamed Al Hajeri says the incentive will also solidify the emirate’s position as an attractive regional and international destination for investors.
H.E. said: “Abu Dhabi’s robust and growing economy is due in part to the unwavering support of the emirate’s forward-thinking leaders, who continue to develop and implement growth-driving strategies.”
“ADDED’s launch of ETIP reflects its commitment towards following Abu Dhabi Government’s strategic directives to enhance and solidify the emirate’s position as an attractive regional and international destination for investors, as well as boosting the local economy based on innovation, knowledge and sustainable diversification.”
An awareness-raising workshop was held this week to promote the program, with representatives from Abu Dhabi and Al Ain distribution companies in attendance.
Firms had earlier conducted a technical evaluation before issuing a recommendation on optimal tariff levels to ADDED.
The workshop was also attended by representatives of more than 120 investors operating within the industrial sector.
Tariffs are calculated against certain criteria – including economic impact and productivity – and could reduce electricity costs by up to 40%.
The incentive took effect at the start of July, with reduced costs applied retroactively from 1 April 2019.