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Kuwait water, electricity prices up by 500 per cent

Kuwait - To encourage rational consumption of resources.

Electricity and water rates in Kuwait have been revised to encourage consumers to rationalise consumption, Dr. Mashaan Al Otaibi, assistant undersecretary of the ministry of electricity and water for planning and training, said in a statement.

The new rates, that came into effect in the investment sector on Tuesday, are five fils (nearly $0.016) per kWh and two dinars ($6.63) per 1,000 imperial gallons of water, he said at a press conference.

"The new tariffs took force in the commercial sector in May and the tariffs of the government sector will rise from two fils to 25 fils (some $0.082) per kWh and from KD0.8 to KD4 ($13.27) per 1,000 gallons as of November 22, 2017," Dr. Al Otaibi noted.

"The ministry started implementing the new programme for increasing the tariffs of water and electricity today after finalizing all accounts of the investment sector and making sure that there are no consumers in debt.

"The ministry consumes 350,000 barrels of oil a day to generate power and this figure could hit two million bpd in 2035 if extravagant consumption continued," he added.

He commended Kuwait's vision for replacing 15 per cent of the country's total power consumption by renewable energy by 2030.