Abu Dhabi: Abu Dhabi’s Department of Energy (DoE) has issued a second regulatory control for water, wastewater and power sector operators, which sets a revenue cap of AED50 billion for the period January 2023 to December 2026 Ram to ensure operator efficiency and strengthen the regulatory framework.
These controls will apply to each of the following companies: Abu Dhabi Distribution Company (ADDC), Al Ain Distribution Company (AADC), Abu Dhabi Transmission and Dispatch Company (TRANSCO) and Abu Dhabi Sustainable Water Solutions Company (ADSWSC) ) (previously known) Abu Dhabi Sewerage Services Company (ADSSC).
Eng Ahmed Mohamed Al Rumaithi, Undersecretary of the U.S. Department of Energy, said: “This achievement is the result of a joint effort, extensive consultation and dedicated work by the Department of Energy, Abu Dhabi National Energy Company (TAQA), and companies across industries.
“The newly implemented procedures reflect the ongoing transformation of Abu Dhabi’s regulatory framework, strengthening it while adhering to the highest standards of transparency and ensuring the efficiency of companies operating in the sector. These controls enable companies to conduct business efficiently and more efficiently. manage its activities efficiently, not to mention enhance the company’s ability to finance future economically and technically feasible capital projects.”
These controls outline the maximum revenue allowed for each company and the profit margin allowed for individuals. It also agrees on the level of investment to achieve the desired goals while maintaining the predetermined and underlying cost levels of business operations.
As the regulator charged with overseeing the industry, the Department of Energy plays a key role in ensuring the success of price controls while carefully balancing the needs of customers, investors, governments, and companies operating in the industry.
The main objectives of the newly implemented controls are to protect the interests of investors by ensuring security of supply, accommodating the continued growth of the industry, providing first-class service and by providing a reasonable return on infrastructure investment as well as being financially and technically viable. project. These controls are designed to meet the government’s goals of reducing carbon emissions, promoting sustainable development, facilitating the transformation of the energy sector, improving the regulatory framework for companies and continuously improving performance, while ensuring companies’ ability to finance their operations and capital activities.