Latest news with #BD161
Daily Tribune
18-04-2025
- Business
- Daily Tribune
Private sector power shift cuts costs
Handing electricity production over to the private sector has helped cut running costs and sharpen output, Electricity and Water Affairs Minister, His Excellency Yasser Humaidan, told Parliament. He said this approach lifts a weight off public finances, as the government no longer has to foot the bill for new power stations, an outlay that would otherwise run into large sums. 'The move towards independent power production began over two decades ago,' he said. 'It's worked well. Costs have dropped, and efficiency has improved, thanks to modern technology and a flexible way of meeting growing demand.' Humaidan said that generating one kilowatt-hour of electricity costs 21.7 fils, while transmission and distribution add another 7.5 fils. Electricity subsidies last year stood at BD161 million, he said, with BD105 million going to the first tier of household bills.
Daily Tribune
12-04-2025
- Business
- Daily Tribune
Private power saves Bahrain BD99 million
TDT | Manama Th e privatisation of Bahrain's power sector has begun to yield major benefits. Latest figures show that the government's move away from direct power generation has saved the Kingdom BD99 million in just two years. This comes despite BD161 million being spent on subsidies in 2023 alone. The average price per unit now stands at 21.7 fils per kilowatt-hour. The data was released by the Electricity and Water Authority (EWA) in response to a parliamentary question by MP Mahmood Fardan. The shift was not sudden — it began nearly 20 years ago. Newer machinery, improved supply chains, and strategic placement of power plants have all played a crucial role in cutting costs, according to EWA. Decommissioning older power stations in Sitra and Riffa also contributed by improving gas usage efficiency. Smart meters that track consumption without manual readings, along with digital platforms for billing and account management, have further boosted operational efficiency. The actual cost While electricity is purchased at 21.7 fils per kilowatt-hour, an additional 7.5 fils is spent on distribution to end-users. Thousands of substations connected via transmission lines are instrumental in keeping Bahrain powered around the clock. More savings on the way EWA says it expects to save a further BD68 million this year, thanks to the commissioning of new fuel-efficient units at Al Dur 2. subsidies When asked for a breakdown of subsidies by month and customer category, EWA said it could not provide that level of detail. However, it confirmed that total subsidies in 2023 stood at BD161 million, as per audited financial records. Ongoing efforts Switching from thermal desalination to reverse osmosis, which requires significantly less electricity, is another step towards cost efficiency. Additionally, the Authority is rolling out value-added services that generate revenue.
Daily Tribune
20-03-2025
- Business
- Daily Tribune
Investors sue real estate firm over unfinished homes and refunds
TDT | Manama A real estate firm is facing legal action after failing to deliver homes it had promised to buyers under a buyback arrangement. Investors who had paid in full for residential units are now seeking to have their contracts cancelled and their money refunded, with BD161,675 at stake. The cases, brought against the company and its owner, argue that the firm breached its agreements by neither completing the properties nor transferring ownership as required. The claimants, three in total, had signed preliminary sale and purchase agreements with the company. The first, along with his partners, bought an off-plan unit for BD72,000, fully paid. On the same day, they also signed a resale agreement, under which the property was to be sold back to the company for the same amount. Sale contract Construction was meant to be completed within a year. It wasn't. No final sale contract was signed either. A similar agreement was reached between the company and the second and third claimants, who together paid BD85,000. Their unit, too, was never finished. The company also failed to make two months' rent payments totalling BD4,675 under a separate lease agreement. With no progress and no sign of their money being returned, the claimants took the matter to court. The court examined the sale and purchase agreements, noting that they bore signatures attributed to both sides. The company had raised no objections to the agreements nor challenged the fact that full payment had been made. No evidence was presented to show any real steps taken towards completing the units or transferring ownership. Contractual obligations The court found the company had broken its contractual obligations by failing to hand over the properties despite having received the full purchase price. In the first case, the court ordered the company to return BD72,000 to the claimant, with legal interest set at 1 per cent per year from the date of the claim until full repayment. It was also told to cover legal fees and court costs, including BD1,500 for legal representation.
