Suhail Al Mazrouei: Policy regulating local energy market will support UAE’s sustainable development

Suhail Al Mazrouei: Policy regulating local energy market will support UAE’s sustainable development

DUBAI, 13th June, 2023 (WAM) – Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Infrastructure, today revealed the details of the policy regulating the market of energy services providers in the UAE that was approved earlier by the Cabinet.

Developed by the Ministry of Energy and Infrastructure (MoEI), the policy provides guidelines for the contractual framework amongst energy stakeholders and the various contracting mechanisms to consolidate the mechanisms of doing business, financing, and partnerships between the public and private sectors. This will encourage energy service providers and private sector companies to invest in government projects, with the goal of reducing energy and water consumption, carbon footprint, and operational costs in buildings.

Al Mazrouei said, “While drafting the policy, we were keen to integrate the objectives of the National Water and Energy Demand Management Programme 2050 – a main enabler of achieving the UAE Energy Strategy 2050 and the UAE Water Security Strategy 2036. The policy has set objectives for the next five years, including reducing water use by 23 percent, cutting down operational costs by 20 percent in federal buildings, contributing to clean energy by 5 percent, promoting the sustainability of buildings by an approximate 5-10 percent, and raising