Kuwait increases power, water rates for some sectors
Kuwait introduced new electricity and water rates for the investment sector yesterday (August 22), saying it will encourage consumers to rationalise consumption.
The new rates are five fils (nearly $0.016) per kWh of electricity and KD2 ($6.63) per 1,000 imperial gallons of water, Assistant Undersecretary of the Ministry of Electricity and Water for Planning and Training Dr Mashaan Al-Otaibi was quoted as saying in a Kuwait News Agency report.
New tariffs were implemented for the commercial sector in May. Tariffs will rise for the government sector from 2 fils to 25 fils per kWh and from KD0.8 to KD4 per 1,000 gallons from November 22, Dr Al-Otaibi said.
“The ministry consumes 350,000 barrels of oil a day to generate power and this figure could hit two million bpd in 2035 if extravagant consumption continued,” he added.