DEWA profit jumps 11.7% to Dh7.63 billion as Dubai electricity demand rises

Dubai Electricity and Water Authority (DEWA) reported an 11.7% increase in profit after tax to Dh7.63 billion for the first nine months of 2026, as the emirate's electricity demand surged. Revenue from electricity, water, and other businesses grew to Dh25.74 billion, up 3.3% from the previous year's Dh24.92 billion. EBITDA rose 2.1% to Dh13.43 billion, while operating profit climbed 2.3% to Dh8.52 billion.

Cash generated from operations amounted to Dh14.59 billion. This marks DEWA's highest-ever nine-month revenue and profit after tax. The utility's vice-chairman and CEO, Saeed Mohammed Al Tayer, attributed the results to the resilience of the business model, operational efficiency, and sustainable long-term value creation. DEWA's third-quarter performance was equally strong, with gross electricity generation reaching 21.37 TWh, an increase of 16.3% year-on-year.

Peak electricity demand was 11.682 gigawatts, up 2.55% from the previous year. The utility also noted an improvement in its gross heat rate by 4.89% to 7,268 BTU/kWh. As Dubai's population and infrastructure expand, DEWA's demand for electricity has risen, with 1,380,844 customer accounts as of September 30, 2026, a 5.5% increase from the same period last year.