Qualifying industrial companies to benefit from the Electricity Tariff Incentive Program (ETIP)Mohamed Ibrahim
Qualifying industrial companies to benefit from the Electricity Tariff Incentive Program (ETIP)
Truth qualifies the relevant companies/factories to obtain this certificate and benefit from this initiative through its accumulated experience and extensive relations with the relevant authorities in the Emirate of Abu Dhabi – United Arab Emirates.
The Electricity Tariff Incentive Program (ETIP), recently launched in line with the Abu Dhabi Development Accelerators Programme ‘Ghadan 21,’ is expected to contribute in the increasing of companies’ capitals, which will enable them to further develop their industrial products, enhance their business value, and improve competitiveness across the local and wider markets.
ADDC and AADC have launched a joint initiative with the Industrial Development Bureau, part of the Department of Economic Development.
The intention of this initiative is to encourage investment and expansion in the manufacturing sector and to contribute to Abu Dhabi’s goal of ‘Securing financial sustainability for vital sectors’.
The initiative will assist companies in:
- Reducing operational costs.
- Boosting productivity.
- Enhancing competitiveness.
- Encouraging technological transformation.
- Encouraging energy efficiency.
The initiative provides a discount to normal industrial tariffs for those sites with active industrial licenses and who fulfil certain qualifying criteria.
Qualification for the incentive tariff is assessed in a scoring process which measures:
- Economic test for contribution to the Abu Dhabi economy – 40% of the total score.
- Economic test for productivity – 40% of the total score.
Installed capacity of the site electrical supply – 20% of the total score.