Dubai’s Peak Power Demand Rises in Sign of Economic Recovery - Bloomberg
Demand for power in Dubai has risen from last year, according to the head of the emirate’s state-owned utility, a possible sign the economy is recovering from the coronavirus pandemic.
Dubai’s summertime peak electricity load rose by 6%, or roughly 500 megawatts, from 2019, Saeed Al Tayer, the chief executive officer of Dubai Electricity and Water Authority, said in an interview with Bloomberg TV.
“We are actually very optimistic because we thought that we would have negative growth,” Al Tayer said on Tuesday. “In the first quarter, it was negative growth. But then when the government decided to return to the offices and return to work,” demand climbed, he said.
The sheikhdom, one of seven that comprise the United Arab Emirates, is the Middle East’s main business hub and has been hit hard by declines in trade and tourism since the virus spread around the world. Economic activity has picked up since Dubai eased its own lockdown around May and June.
No comments:
Post a Comment