World’s first risk management standard for energy, utilities sector to launch

DUBAI, Dubai Electricity and Water Authority, DEWA, in cooperation with the British Standards Institute, BSI, will soon launch the PAS 60518:2020 standard for risk management in the energy and utilities sector, a first of its kind in the world.

DEWA approved the number 60518 for the new standard in reference to the birthdate – 6th May 1918 – of the late Sheikh Zayed bin Sultan Al Nahyan. DEWA started preparations for the standard in the Year of Zayed 2018, which marked the centennial birth of the UAE’s Founding Father.

Commenting on the announcement, Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA, said that the authority “operates a rigorous risk management system and enhances its resilience by improving its ability to anticipate risks and prepare for change, to ensure business continuity.”

“DEWA also adapts its work environment and operations to provide electricity and water services to over 900,000 customers in Dubai according to the highest levels of quality, efficiency, and reliability,” he added.

Al Tayer went on to explain that the PAS 60518:2020, which DEWA and BSI have developed, is the first risk management standard that is especially designed for the energy and utilities sector.

“This supports DEWA’s commitment to keeping pace with the rapid changes to achieve the highest standards of excellence and our efforts to achieve DEWA’s vision to become a globally leading sustainable innovative corporation,” he continued.

For her part, Khawla Al Mehairi, Executive Vice President of Strategy and Government Communications at DEWA, noted that some utilities use ISO 31000:2018 risk management guidelines, which provides a good starting point. However, it lacks guidance on implementation. The new PAS 60518:2020 fills some gaps in the current standards and paves the way to full ISO standardisation.

The new standard is an important addition to the efforts to set effective risk management standards, ensure business continuity, and handle emergencies with the highest levels of professionalism and efficiency to serve people and achieve their happiness.

Source: Emirates News Agency