DEWA Nine-Month Net Profit Rises 11.7% to AED 7.63 Billion on Higher Demand
Dubai utility generated AED 25.74 billion in revenue through September as customer accounts increased 5.5 percent year-on-year.
Dubai Electricity and Water Authority reported net profit of AED 7.63 billion for the nine months ended September 30, 2026, an increase of 11.7 percent from AED 6.83 billion in the corresponding period of 2025, according to financial results released Thursday. Revenue for the period reached AED 25.74 billion, up 3.3 percent from AED 24.92 billion a year earlier. The DFM-listed utility recorded customer accounts of 1,380,844 as of September 30, 2026, an increase of nearly 72,000 accounts, or 5.5 percent, compared with the same date in 2025.
Third-Quarter Revenue Climbs 5.4 Percent to AED 10.87 Billion#
Third-quarter revenue increased 5.4 percent year-on-year to AED 10.87 billion, while net profit for the quarter rose 9.2 percent to AED 4.30 billion. EBITDA for the nine-month period reached AED 13.43 billion, up 2.1 percent from the prior year, and operating profit increased 2.3 percent to AED 8.52 billion. Cash generated from operations stood at AED 14.59 billion for the nine months. The company stated in its release that it had achieved its highest-ever nine-month revenue and net profit.
Gross Electricity Generation Reaches 21.37 TWh in Third Quarter#
Gross electricity generation in the third quarter totalled 21.37 terawatt hours, an increase of 4.13 percent from 20.53 TWh recorded in the same quarter of 2025. Peak demand during the quarter reached 11.682 gigawatts, a year-on-year increase of 2.55 percent. The utility's gross heat rate, which measures fuel conversion efficiency, improved 4.89 percent to 7,268 British thermal units per kilowatt hour. The third quarter saw clean energy output of 3.22 TWh, up from 2.77 TWh a year earlier, representing growth of approximately 16.3 percent. Clean sources accounted for 15.1 percent of total gross electricity generation during the quarter.
Installed Capacity Stands at 19,029 MW Including 4,910 MW Clean Energy#
DEWA's total installed electricity generation capacity stood at 19,029 megawatts as of September 30, 2026, of which 4,910 MW came from clean energy sources. The Mohammed bin Rashid Al Maktoum Solar Park contributed 4,660 MW to installed capacity, with the Hatta pumped-storage hydroelectric facility adding 250 MW. The utility disclosed plans to increase installed electricity generation capacity to more than 23 GW by the end of 2030, with around 8.3 GW of the planned capacity expected to come from renewable energy sources.
Sources2 sources across 2 domains
- gulfnews.comGulf NewsNine-month net profit of AED 7.63 billion, up 11.7%, revenue of AED 25.74 billion, customer accounts of 1,380,844, third-quarter generation of 21.37 TWh, clean energy generation of 3.22 TWh, installed capacity figures and 2030 capacity target
- forbesmiddleeast.comForbes Middle EastThird-quarter net profit of AED 4.3 billion, up 9.2%, and third-quarter revenue of AED 10.87 billion, up 5.4%
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