Law No. 20 of 2018 concerning the establishment of UAE Water and Electricity Company “Public Joint Stock Company”.

This legislation, comprising 21 articles, establishes the UAE Water and Electricity Company as a public joint-stock entity with independent legal status, as outlined in Article 2. The company is entrusted with diverse responsibilities, including the purchase, sale, planning, organization, and management of production capacity, water, and electricity supply and demand from licensed entities. Additionally, it functions as the exclusive provider of production capacity within a designated geographical scope, ensuring supply meets anticipated needs, except when the Side Sales System is implemented. The company is also tasked with contracting capacity providers, overseeing associated tenders, finalizing agreements with licensed entities for production and distribution, and developing and holding intellectual property rights related to its operations. It is empowered to undertake various operations and actions to achieve its objectives, both within and outside the State. These include owning, leasing, and mortgaging properties, borrowing funds, contributing to projects for strengthening its position, financing projects for itself and subsidiaries, establishing wholly or jointly owned companies, managing financial matters such as bank accounts, and trading securities. Additionally, the company can establish regulations related to employment, retirement, and bonuses, contribute to non-profit projects, and engage in legal and judicial procedures as deemed necessary by the Board of Directors to fulfill its objectives.
Article 8 outlines the governance of the Company by a Board of Directors appointed through an Executive Council Resolution. The Board is empowered to set the overall policy, supervise its execution, and make key decisions such as approving strategic plans, financial regulations, organizational structures, budgets, and CEO appointments. Additionally, Article 13 grants the Company the authority to impose a wholesale supply tariff on Licensed Entities for Distribution and Transmission in the provision of water and electricity. Lastly, the Company and its subsidiaries are exempt from local taxes and fees and are designated as a strategic industrial project.