Oman’s power regulator says spending on subsidies will fall by 10.6% to OR456mn ($1.186bn) in 2017.
The regulator says this is thanks to a rise in revenue from electricity consumers following the introduction of cost-reflective tariffs for large industrial, commercial and government consumers from 1 January 2017, effectively ending subsidies for such customers. These price rises have led Oman to lower its demand projections on the anticipation of more efficient usage. (CONTINUED - 342 WORDS)
