Oman tops GCC in Renewable Energy Regulatory index

Muscat: The Sultanate of Oman ranked first in the “Renewable Energy Regulatory” index at the level of the Gulf Cooperation Council countries, first in the Middle East and North Africa, and sixth globally, issued by the "Rise" organization concerned with national policies and regulatory frameworks for sustainable energy of the World Bank.

Oman has achieved advanced positions in the regulatory indicators for sustainable energy "the field of energy regulation". In the "General Level of Sustainable Energy Regulation" index, the Sultanate of Oman ranked second at the level of the Gulf Cooperation Council countries, fifth at the level of Middle East and North Africa countries, and thirty-eighth at the level of countries in the world.

Oman's achievement of advanced results in the regulatory indicators of sustainable energy is an indication of the contribution to achieving one of the most important goals of the "Oman 2040" vision represented in the goal of global competitiveness. It also reflects the positive image of the applied policies and regulatory frameworks. This will contribute to attracting investments in areas related to the energy sector, and creating opportunities for training and employing Omani competencies.

The Public Services Regulatory Authority indicated that one of the most important elements and factors that contributed to Oman obtaining these centers is the attention that the government and relevant authorities have given to developing sustainable energy fields and providing the necessary enablers and support for that, through approved plans to implement the transition to alternative energy and diversify its sources. These include liberalizing the market through bilateral sales and the spot market, adopting the national strategy for an orderly transition to zero neutrality, and establishing a center Oman for sustainability, setting regulatory frameworks for non-polluting cars, sector governance, as well as developing the necessary incentives to support and enable areas related to renewable energy and support its initiatives, explaining that work is underway to develop possible regulatory frameworks for the sustainable energy sector.

The "Rise" organization concerned with national policies and regulatory frameworks for sustainable energy is one of the organizations affiliated with the World Bank that covers one hundred and forty countries, representing more than ninety-eight percent of the world's population, and is considered a reference to help policy makers measure their regulatory frameworks in the areas of renewable energy regulation.