The Abu Dhabi Department of Economic Development (ADDED) has expanded its electricity tariffs incentive program (ETIP) to include small and medium enterprises (SMEs) in the industrial sector in order to assist them to become more competitive and energy-efficient.
The ETIP, which is part of Abu Dhabi’s Ghadan 21 initiative, intends to increase the capital of industrial facilities. Further, it will allow factories to improve their industrial products and increase their value in the local market while also enhancing their capacity to compete in regional and international markets.
Mr. Rashed Abdul Kareem Al Blooshi, the Under-Secretary of ADDED, affirmed that the department’s Industrial Development Bureau is working to raise awareness of energy management and sustainability standards among these manufacturing facilities, in collaboration with the department’s strategic partners, to increase their contribution to the emirate’s GDP.
Rashed Abdulkarim Al Blooshi Undersecretary ADDED
“ETIP aims to reduce the operating costs in the industrial sector, boost productivity, increase the competitiveness of the industrial products, and encourage technological transformation within the sector. ETIP is aligned with the vision and mission of the Abu Dhabi Government, which aims to enhance the emirate’s competitiveness globally and create new investment opportunities that support the emirate’s local economy ecosystem in non-oil sectors, providing it with the highest sustainability standards and operational efficiency. The success of ETIP reflects the cooperation and strategic partnership between ADDED and the distribution companies (Abu Dhabi and Al Ain), as well as the industrial sector facilities throughout Abu Dhabi.”
According to the reports, ETIP will also improve energy efficiency by assisting in the provision of competitive power tariffs to industrial facilities while meeting the necessary rules and criteria. The Industrial Development Bureau has issued 51 registered certificates for the industrial facilities in Abu Dhabi as part of the program’s second year.
ETIP comprises a measurement system that determines the tariff categories and amounts due for each. These metrics will be reviewed and evaluated through a specific process led by a group of specialized firms.
As per the reports, this tariff will safeguard investors from energy price swings, while also supporting the industrial sector as a key engine of long-term growth and sustainable economic development in the emirate.
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