Baset Asaba, Middle East Utilities
Summary
The new Energy Department will be responsible for strategic plans for the entire energy sector in Abu Dhabi
Abu Dhabi has folded utility Abu Dhabi Water & Electricity Authority (ADWEA) into the emirate’s newly established department of energy as part of a consolidation of state-owned entities, a spokesman for the department has said.
The Regulation & Supervision Bureau (RSB), which oversees water, waste water and electricity in Abu Dhabi, will also become part of the energy department.
Abu Dhabi has seen some of its largest firms merge in the last two years as part of a strategic review in response to an oil price slump.
Two of the UAE’s biggest banks, National Bank of Abu Dhabi and First Gulf Bank, were merged to create First Abu Dhabi Bank. International Petroleum Investment Company (IPIC) was merged with Mubadala. This month, Abu Dhabi Investment Council was taken over by Mubadala Investment Company.
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