MUSCAT: A new electric tariff for the residential category and the agricultural sector, and the merger of electricity companies for the distribution and supply activities in three companies has been issued.

The results of the tariff review and electricity sector governance include:

1. Redirecting the subsidy to the housing category from five years to ten years, with an increase at a rate not exceeding (2 baizas) annually.
2. Fixing the value of the approved tariff for electricity consumption, the residential category, for the year 2022, with the tariff of December 2021, for the same category.
3. Unifying the electricity consumption segments for all residential category accounts, so that the value of the electricity consumption tariff for the residential category for the year 2022 is determined on the basis of two categories.
4. Merging the electricity companies for the distribution and supply activities in 3 companies, while retaining the Dhofar Integrated Services Company.
5. Starting the operational operations of the first instant market for electricity in the Middle East under the name “Oman Instant Electricity Market” to raise the efficiency of the energy procurement system in line with international best practices.