01
Executive overview
Key findings
AED 32.84 billion: group revenue in 2025, with EBITDA of AED 17.37 billion (preliminary, unaudited)
17,979 MW and 555 MIGD: installed generation and desalination capacity at March 31, 2026 (actual)
AED 11.72 billion: invested group-wide in 2025 (utility statement; audited segment capital expenditure AED 12.10 billion)
AED 43,725.0 million: borrowings at March 31, 2026, up from AED 38,576.3 million at the end of 2025 (actual)
02
Buyer relevance
Who the report is for
Equity and credit analysts
Track revenue, EBITDA, borrowings of AED 43,725.0 million at March 31, 2026 and the AED 6.2 billion minimum dividend against the Moody's A3 rating.
Energy and water project developers
See the status of Hassyan's 180 MIGD first phase, the 272,000 m3 a day plant signed in October 2026 and Solar Park Phases 6 and 7.
Grid and network suppliers
Use the substation counts, including 402 transmission substations at mid-2026 and 65 new 132 kV substations under construction, to size grid work.
Consultants and new market entrants
Get DEWA's mandate, single-buyer law, tariff slabs and regulator in one reference before deeper work.
03
Decision scope
Questions answered
How large is DEWA?
It reported 2025 revenue of AED 32.84 billion and EBITDA of AED 17.37 billion (preliminary), served 1,327,182 customer accounts and had 17,979 MW and 555 MIGD installed at March 31, 2026.
Where does its revenue come from?
In Q1 2026 electricity sales were 56.8% of revenue, water 22.8% and district cooling 9.6% (calculated from the interim accounts).
How much has it borrowed?
Borrowings were AED 43,725.0 million at March 31, 2026, up AED 5,148.7 million in the quarter, including a new AED 5,000 million term loan.
Have tariffs changed?
The slab rates listed for 2026, such as 23 to 38 fils per kWh for residential electricity, match Executive Council Resolution No. (16) of 2011.
How fast is clean energy growing?
Clean sources produced 16.23% of DEWA's generation in 2025 and 18.5% in Q1 2026, up from 11.2% in 2024.
04
Inside the report
Inside the complete report
Executive Overview
Utility and Service Mandate
Water Resources and Supply
Networks and Assets
Financial Position
Investment and Major Projects
Tariffs and Customer Context
Energy and Sustainability
Governance and Regulation
Climate and Resilience
Forward Developments
Key Intelligence Summary
Source Register
05
Public preview
What to watch next
Financial Position
Q3 2026 results (the equivalent 2025 results were published on November 12, 2025); the H1 2026 dividend of AED 3.1 billion, expected in October 2026; any rating action by Moody's.
Investment and Major Projects
Award of Solar Park Phase 7; commissioning of Hassyan Blocks B and C and of Phase 6; awards of the Hassyan Phase 2 pipeline packages.
Water Resources and Supply
Commissioning of Hassyan Blocks B and C; the 2026 peak against 555 MIGD; completion of the aquifer storage scheme.
Tariffs and Customer Context
Any change to the fuel surcharge or a new tariff resolution; the effect of the 2027 sewerage charge on combined bills.
Network indicators from 2021 to 2025, grid assets at mid-2026, and DEWA's income, cash and borrowings from FY2023 to Q1 2026.
06
Included
What you receive
The complete PDF report: 13 pages, 13 sections, 22 tables and a register of 23 sources.
This edition
October 2026, First edition.
07
Evidence & method
Evidence and method
The profile draws on DEWA's audited and interim financial statements and results releases filed on the Dubai Financial Market, its sustainability and integrated reports, Dubai laws and tariff resolutions, and Dubai Media Office statements. Project status was checked against developer disclosures and trade press on October 30, 2026.
Sources
23 sources, listed in the report's source register. Evidence current to 30 October 2026. Principal data periods: FY 2023–FY 2024 audited accounts; FY 2025 preliminary results with audited December 31, 2025 balances; Q1 2026 interim accounts; H1 2026 results (August 12, 2026). Status checked on October 30, 2026. Currency is UAE dirhams (AED). Water is in imperial gallons, as DEWA reports it (MIGD: million a day; MIG: million; BIG: billion)..
Evidence boundaries
This report uses authoritative source material available at the stated research cutoff. It distinguishes published facts, calculated values and analytical interpretation. No independent modelling is performed. Forward-looking analysis reflects published plans, documented trends and stated uncertainties. It does not constitute legal, financial, investment or engineering advice.
08
Lead analyst
Robert C. Brears
Founder, Our Future Water Intelligence
Robert C. Brears is a water-security specialist and author whose work examines utility governance, infrastructure investment, climate resilience and long-term water-system change for executive and policy audiences.
- Decision-focused utility intelligence
- Published water-policy author
- Evidence-grounded system analysis
09
Buyer FAQs
Before you purchase
Who can use the report?
Licensed for internal use within one purchasing organization. The PDF and its contents may be shared with colleagues within that organization. External redistribution, resale and public publication are prohibited without permission.
How is the report delivered?
The PDF is available to download immediately after confirmed payment, through our secure delivery system.
Can my organization buy wider access?
Institutional purchasing: For invoice enquiries, multi-organization licensing or broader access requirements, contact Our Future Water Intelligence.
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Utility Intelligence Profile: Dubai Electricity and Water Authority
- Format
- Length
- 13 pages
- Edition
- October 2026, First edition
- Price
- USD 99
11
Report details
Publication details
- Publisher
- Our Future Water Intelligence
- Report family
- Utility Intelligence Profile
- Edition
- October 2026, First edition
- Format
- Length
- 13 pages
- Reference
- OFW_EXT_DUBAI_ELECTRICITY_AND_WATER_AUTHORITY_UTILITY_INTELLIGENCE_PROFILE_ae64b4ac5a93
- Evidence current to
- 30 October 2026
14
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