DUBAI, (WAM) — Dubai Electricity and Water Authority (DEWA) has been ranked the third most valuable utility brand in the Middle East and the third fastest growing brand in the UAE according to the annual report issued by “Brand Finance” for the strongest and most valuable brands in the world in 2022.
The report underlined the remarkable success of DEWA’s Initial Public Offering (IPO) during the first half of 2022, noting that the strength of DEWA’s brand played a fundamental role in achieving this success. The report also highlighted the importance DEWA attaches to sustainability and green energy to achieve carbon neutrality.
Saeed Mohammed Al Tayer, MD and CEO of DEWA, expressed his pride in this new achievement, which adds to DEWA’s record of prestigious international achievements. He noted that this global ranking reflects DEWA’s position as one of the most prominent and distinguished utilities globally.
“At DEWA, we support the vision and directives of the wise leadership, to consolidate the competitiveness of the UAE, which leads global indices in various areas. DEWA spares no effort in supporting ambitious national strategies, including the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy to provide 100% of Dubai’s total power capacity from clean energy sources by 2050. The secret of DEWA’s success lies in applying the principles and practices of excellence across all its operations and activities as well as in strategic planning, in addition to including them within its corporate culture,” said Al Tayer.
DEWA’s teams have made unprecedented achievements at the local and global levels. DEWA’s results surpass major European and American utilities in several indicators. In 2021, losses from electricity transmission and distribution networks were 3.3% compared to around 6-7% in Europe and the USA. Water network losses were also reduced to 5.3% compared to about 15% in North America, making it one of the lowest water losses worldwide. Fuel Heat Utilisation in DEWA’s power plants reached 90%.
DEWA has achieved a new world record in electricity Customer Minutes Lost (CML) per year. Dubai recorded 1.43 minutes per customer in 2021, compared to around 15 minutes recorded by leading utility companies in the European Union. By the end of the first half of 2022, DEWA provided its services to 1,126,121 customers, according to the highest standards of quality, efficiency, availability, and reliability.