The Dubai Electricity and Water Authority (Dewa) expects low-carbon hydrogen to play a bigger role in its energy mix in the longer term, according to its chief executive.
“We want to expand [and] we want to make sure it is very competitive,” Saeed Al Tayer told reporters during the Water, Energy, Technology, and Environment Exhibition (Wetex) in Dubai on Wednesday.
Hydrogen and its various low-carbon forms are seen as an alternative to natural gas.
It is a “promising” [fuel] but maybe within the next 8 to 10 years, when technological innovations in the sector will bring manufacturing costs down, Mr Al Tayer said.
Despite hydrogen's increasing appeal in hard-to-abate sectors like steel manufacturing and shipping, critics have questioned its feasibility due to high costs and the lack of a mature market for the commodity.
French investment bank Natixis estimates investment in hydrogen will exceed $300 billion by 2030.
It comes in various forms, including blue, green and grey. Blue and grey hydrogen are produced from natural gas.
Dewa may also explore a project involving batteries next year as the share of renewable energy increases in the Dubai utility’s overall mix, Mr Al Tayer said.
“This project will integrate photovoltaic solar energy panels, capitalising on the rapid technological advancements in battery technology,” he said.
“Our experience with batteries started with a feasibility study, similar to our approach with the hydrogen project, which we believe holds significant potential for the future.
“The pilot phase of the batteries, like that of hydrogen, has shown promise, although it remains costly.”
In August, Dewa filed a patent for a method of improving the performance of electrodes in lithium-ion batteries, sodium – sulfur batteries, and electrolyte distribution batteries.
This year, Emirates National Oil Company joined forces with Dewa to develop and operate a joint integrated pilot project for the use of hydrogen in mobility.
The proposed project would take advantage of Dewa’s existing green hydrogen production facility in the Mohammed bin Rashid Al Maktoum Solar Park and Enoc's knowledge of the fuel market and customer base, the companies said in February.
The UAE, the Arab world’s second-largest economy, aims to achieve hydrogen production of 1.4 million tonnes annually by 2031, increasing to 15 million tonnes a year by 2050.
The country is planning to develop at least two hydrogen production hubs, or oases, by 2031.
Last week, Dewa reported an 8 per cent rise in its third-quarter profit, driven by an increase in demand for the utility’s electricity, water and cooling services.
The five pillars of Islam
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
