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 Suhail bin Mohammed 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 program to support the industrial sector in the Northern Emirates and formalizes the parties’ intention to negotiate a binding electricity bulk supply agreement (BSA) between EtihadWE and a nominee to be designated by IDO.
Yousif Ahmed Al Ali CEO – EtihadWE
“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.”
Once signed, it is expected that the BSA will provide eligible industrial customers in Ras Al Khaimah (RAK) with access to discounted electricity rates through a bulk aggregation mechanism.
Mohammed Sultan Al Qadi, Managing Director of the Investment and Development Office of Ras Al Khaimah, stated that, “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.”
