Oman has formally launched an electricity spot market, enabling licensed generators to offer their surplus at the most competitive rate. The country aims to increase the efficiency of power procurement. In addition, Oman has extended by 5 years a planned redirecting of electricity subsidies for residential customers and capped power tariffs for the same residential customer category throughout 2022 at December 2021 levels. Finally, the country merged Muscat Electricity Distribution Company, Mazoon Electricity Company, Majan Electricity Company, and Rural Areas Electricity Company (Tanweer), as part of a restructuring programme of the electricity distribution and supply companies aimed at improving their operational efficiency and cut costs.
Oman produced 38 TWh in 2019 (+1% compared to 2018), 97% of which from gas and 2% from oil. Electricity consumption in the country doubled between 2010 (16 TWh) and 2019 (nearly 34 TWh).
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