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Dubai Electricity and Water Authority saw its net income decline 14% y-o-y to AED 2.9 bn in 3Q 2024, according to the company’s consolidated financial statements (pdf). The company’s revenues climbed 4.8% y-o-y to AED 9.9 bn.
On a 9M basis: Dewa reported a 10.7% decline y-o-y in net income to AED 5.5 bn. The authority booked a 6.2% y-o-y increase in its revenues to AED 23.5 bn on the back of an increase in demand for electricity, water and cooling services, according to a separate earnings release (pdf).
Dewa has been busy this quarter: Dewa generated a record 19.6 TWh of electricity, marking a 3.98% increase from Q3 2023. Green energy contributed 1.8 TWh (9.18%) of the total, according to a statement (pdf). Dewa’s peak demand reached 10.76 GW, a 3.41% y-o-y increase, while its quarterly gross heat rate of 7,923 BTU/kWh set a new performance record.
