(MENAFN- Khaleej Times) Saeed Mohammed Al Tayer, managing director and chief executive officer of the Dubai Electricity and Water Authority (Dewa) on Thursday ruled out any relief to Dubai consumers in power tariff despite a drastic decline in oil prices.
The Dubai utility has introduced fuel surcharge from the beginning of 2015 which is 6.5 fils/kWh for electricity and 0.6 fils/IG for water.
"Dewa power tariff is not connected with oil price," Dubai utility chief told reporters on the sidelines of a news conference in Dubai.
Al Tayer clarified that 98 per cent of Dewa power production depends on dry gas. "We have long-term contract for this [gas]," he added.
Dubai utility has four different power slab tariff for residential and commercial consumers starting from 23 fils/kWh to 38 fils/kWh depending on the use. For industrial consumers, Dewa has two slab tariffs € 23 fils/kWh and 38 fils/kWh.
Crude oil prices fell on Thursday, with both Brent and US WTI futures dropping below $48 a barrel because of a global oversupply, following a volatile session the previous day when prices had rebounded sharply from near-six-year lows.
By 0721 GMT, Brent was down over a dollar, or 2 per cent, at $47.56 a barrel, while US crude was trading at $47.61 a barrel, down 87 cents.
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