• Money & Finance

Brand Finance ranks DEWA with exceptional results

by CEO Editorial Team

March 15, 2023 1

Dubai Electricity and Water Authority (DEWA) has achieved impressive results in the latest Brand Finance rankings. DEWA’s brand value increased by 30% and the company was named as the second most valuable Middle Eastern utilities brand. The Brand Guardianship Index 2023 issued by Brand Finance also ranked Saeed Mohammed Al Tayer, MD and CEO of DEWA, as the third most successful CEO in the Middle East.

Brand Finance noted that leaders who are most successful in creating a sustainable legacy for their businesses are those who balance the needs of investors, employees, customers, partners, governments, regulators, and the media. The company uses a balanced scorecard of measures that capture the ability of a CEO to act as the guardian of their company’s brand and a steward of long-term shareholder value. The Brand Guardianship Index includes three main pillars: “Equity” factors, which reflect current perceptions; “Performance” factors, which reflect the tangible results of these perceptions; and “Investment” factors, which support future performance. These three pillars are informed by various sub-measures.

DEWA’s results surpass major European and American utilities in several key performance indicators. The company has reduced losses from electricity transmission and distribution networks to 2.2%, compared to 6-7% in Europe and the USA. Similarly, water network losses were reduced to 4.5%, compared to around 15% in North America.

Moreover, DEWA has achieved a new world record in electricity Customer Minutes Lost (CML) per year. Dubai recorded 1.19 minutes per customer, compared to around 15 minutes recorded by leading utility companies in the European Union.

Saeed Mohammed Al Tayer expressed his pride in the results achieved by DEWA, which reflect the company’s success in achieving its strategic objectives and implementing its business plan. He added that DEWA’s focus on innovation, sustainability, and future shaping has enabled the company to achieve this remarkable success.

DEWA is also contributing to Dubai’s vision to become a smart and sustainable city by launching several initiatives, including the Shams Dubai initiative, which encourages homeowners to install photovoltaic panels to generate electricity and connect them to DEWA’s grid. The company has also launched the Green Charger initiative, which aims to establish the infrastructure to charge electric vehicles across Dubai.

DEWA’s exceptional results in the Brand Finance rankings are a testament to the company’s successful efforts in providing high-quality services, reducing losses, and contributing to Dubai’s vision for a smart and sustainable future. The company’s commitment to innovation, sustainability, and future shaping will continue to drive its success and make DEWA a leader in the utilities sector.