DUBAI, 15th March, 2023 (WAM) — Dubai Electricity and Water Authority (DEWA) has been recognised as the second most valuable Middle Eastern utilities brand and its brand value has risen by 30%, according to Brand Finance, the world’s leading brand valuation consultancy.
Saeed Mohammed Al Tayer, MD and CEO of DEWA, has been ranked 3rd among the top CEOs in the Middle East as per the Brand Guardianship Index 2023 issued by Brand Finance.
Brand Finance noted that leaders who build the most sustainable legacy for their businesses are those who balance the needs of investors, employees, customers, partners, governments, regulators and the media.
Brand Finance 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. Losses from electricity transmission and distribution networks were reduced to 2.2% compared to 6-7% in Europe and the USA. Water network losses were also reduced to 4.5% compared to around 15% in North America.
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.