(MENAFN- Muscat Daily) Muscat- Total subsidy provided by Nama Group to electricity consumers rose 23 per cent to RO563.29mn in 2018, mainly driven by a robust growth in the number of consumers.
Addressing a press conference on Monday, Nama Group's chief executive officer Eng Omar bin Khalfan al Wahaibi said that there is no possibility of any significant reduction in the amount of total subsidy on electricity in the near future.
He said, 'Subsidies are the reflection of investments made by us in the system. As we will continue to make investments in infrastructure, this will be reflected in subsidies because the consumer fee has not been increased for a long time.'
According to Nama Group, total subsidy was increased by 23 per cent due to the increase in the unit sold cost, which led to the increase of the supply cost. Also, capacity charges were increased due to the increase in a number of plants in 2018.
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