DEWA reveals number of new electricity and water connections in Dubai last year
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DEWA reveals number of new electricity and water connections in Dubai last year

DEWA reveals number of new electricity and water connections in Dubai last year

It provides its services to 3.5 million people who live in Dubai

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DEWA

The Dubai Electricity and Water Authority (DEWA) has said that the number of new electricity connections in Dubai stood at 68,888 in 2021, while there were 68,315 new water connections last year.

By the end of April 2022, the total number of electricity connections in Dubai reached 1,074,583 connections, and the total number of water connections reached 979,230.

“We strive to increase the efficiency and reliability of the electricity and water networks to keep up with growing demand and provide our services to more than a million customers in Dubai according to the highest standards of availability, reliability, efficiency, and safety,” said Saeed Mohammed Al Tayer, managing director and CEO of DEWA.

“In the past two years, we witnessed an increase in new connections across residential, commercial, and industrial sectors,” said Al Tayer.

DEWA’s total production capacity of electricity is 13.4 gigawatts of electricity and 490 million imperial gallons of water per day (MIGD) of desalinated water.

It provides its services to 3.5 million people who live in Dubai. The emirate’s active daytime population has reached over 4.7 million. These numbers are expected to grow to 5.8 million and 7.8 million respectively by 2040.

Dubai’s Net Zero Carbon Emissions Strategy 2050 aims to provide 100 per cent of Dubai’s energy production capacity from clean energy sources by 2050.

DEWA has reported Q1 2022 revenue growth of 15 per cent to Dhs5.068bn and a net profit of Dhs691m. Compared to Q1 2021, electricity revenue is up 17.5 per cent, water revenue is up 20.2 per cent, and district cooling revenue is up 17.6 per cent in the first quarter of this year. DEWA’s consolidated gross fixed assets grew by Dhs2.8bn to Dhs204.2bn as of March 31, 2022 compared to Dhs201.4bn on December 31, 2021.

Read: UAE’s DEWA reports net profit of Dhs691m for Q1 2022

In April, DEWA raised $6.1bn in the biggest initial public offering in Europe and the Middle East in over two years. It sold nine billion shares at Dhs2.48 each, giving it a market value of $33.8bn. DEWA almost tripled the size of the stake it sold to 18 per cent.

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