In our eleventh year of writing the UAE chapter of The Energy Regulation and Markets Review, COVID-19, now in its third year, continued to create challenges in 2021 and the early part of 2022. It has produced a domino effect, resulting in a reduction in investments, relative delays in projects and a cascade of other obstructions confronting the energy sector in the UAE. However, the focus of the UAE has remained on its strength in mass generating electricity from renewable energy sources.
The UAE has long been at the centre of technological developments and is now using innovative technology in the power sector, which was reflected in its overall ranking at 33 on the World Energy Council’s Energy Trilemma Index in 2021.
The UAE is geared up for and appears to be on track to deliver its Energy Strategy 2050, which was launched in 2017. Backed by impressive technology, the country is well equipped to meet ever increasing energy demands and to create smart and efficient energy production and use. Energy efficiency remains very much at the top of the UAE’s energy agenda.
In addition to the focus on the energy sector at home, the UAE is also collaborating with and investing in other countries.