Energy demand in Dubai during the first half of 2022 increased by 6.3% compared to the same period in 2021, driven by economic recovery, Dubai Electricity and Water Authority (DEWA) said on Wednesday.
In wattage terms the demand in the current period was 23,096-gigawatt hours (GWh) compared to 21,729 GWh in the first half of 2021, the state-backed utility said in a statement on its website.
DEWA’s capacity has reached 14,117 megawatts (MW) of electricity and 490 million imperial gallons per day (MIGD) of desalinated water.
It provides electricity and water services to 3.514 million people living in Dubai and the Emirate’s active daytime population of over 4.7 million. These numbers are expected to grow to 5.8 million and 7.8 million, respectively by 2040, the utility said.
The company, which listed on the Dubai Financial Market in April this year expects a profit of 7.3 billion dirhams ($1.99 billion) in 2022, CEO Saeed Al Tayer told CNBC Arabia. In Q1-2022, it made a net profit of AED 691 million.
(Writing by Brinda Darasha; editing by Seban Scaria)