Fenaka to introduce time-of-use tariffs

Fenaka Corporation is engaged in discussions regarding introducing time-of-use tariffs, which will make energy cheaper at off-peak times.

Time-of-use tariffs offer different prices for energy at different times of the day, or on different days. With these tariffs, energy is cheaper at off-peak times, such as when less people are using energy.

In an appearance on SSTV’s ‘Baaru Hathareh’ program, Fenaka Corporation’s Chief Technical Officer Abdulla Nasheeth noted that the utility company has initiated a nationwide rollout of smart meters.

Fenaka Corporation’s smart meters are automotive and will replace the previously used analogue and digital meters. The company has also launched a mobile app for smart meters, which will enable customers to monitor daily electricity usage to the second via their mobile phones.

Nasheeth said the smart meters will help customers save energy.

He added that the company is also engaged in talks with relevant authorities to introduce time-of-use tariffs.

However, he did not provide any details.

Nasheeth said the company currently spends heavily on providing energy during peak times.

“The peak time is between 10:00 am and 02:00 pm. We have to spend heavily on fuel to produce peak energy during peak time. One generator is not enough, we have to use two,” he said.

“For example, if the people who iron during peak time were to do it during off-peak time, we would be able to lower the peak and thereby lower our spending on fuel.”

Nasheeth said the company wants to maintain energy consumptions during off-peak time at a standard level, which he said would reduce spending on energy production.