Etihad Water and Electricity (EtihadWE) announced the successful update of records for over 7,000 farms eligible for electricity support, a key initiative under the generous patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, aimed at bolstering the agricultural sector in the northern regions of the country.
Engineer Yousif Ahmed Al Ali, CEO of EtihadWE, highlighted the swift progress achieved due to the proactive engagement of customers in updating their data, which is a prerequisite for benefitting from the initiative. This ensures the targeted delivery of support to its rightful beneficiaries.
With this initiative, the actual cost of electricity services provided by the company will be covered based on the supported consumption rates actually collected from the farms, set at only 7.5 fils per kilowatt-hour. This marks a substantial subsidy, reducing the actual cost from the previous range of 28 to 33 fils per kilowatt-hour, translating to a support rate of approximately 74 to 77% of the actual costs incurred by the company.
Engineer Al Ali reiterated the company’s commitment to fully supporting the agricultural sector, recognized as a cornerstone of the UAE's Food Security Strategy and a critical pillar of societal stability and economic growth. This includes prior initiatives such as the implementation of a new reduced water tariff rate in early 2022, further demonstrating EtihadWE’s dedication to the sector.