Saudi Arabia announces new electricity tariffs

12/12/2017 18:30 AST

Saudi Electricity and Cogeneration Regulatory Authority (ECRA) has announced that the Council of Ministers has approved gradual revision of energy prices in the Kingdom including changes to electricity tariffs that will take effect on January 1st, 2018.

The lower consumption will be charged at 18 halala per kilowatt.

It should be noted that there has been no change in tariffs for the industrial and government consumption.

ECRA said: “This step will raise our economic efficiency, will strengthen our non-oil sectors as they become our economic development engine, and will rationalize the consumption of natural resources for future generations.”

ECRA also pointed out that the changes to the electricity tariffs will help redirect support to the most deserving beneficiaries through the Citizen’s Account.

Program, which is implemented and supervised by the Ministry of Labor and Social Development.

ECRA explained that the approved tariffs are designed to cover the cost of services and ensure sustainable electricity supply throughout the Kingdom.

It will also contribute to improving the quality of service, increasing productivity, as well as opening up the field for competition.

The Authority explained that it is working in coordination with both the Saudi Electricity Company (SEC) and the Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) to take all necessary measures and amend the billing system accordingly.


Al Arabiya

News

68pc of SEC purchases from local factories

02/03/2018

The Saudi Electricity Company (SEC) said that 68 per cent of its purchases, during the past four years, came from 52 local factories, with a growth rate of 720 per cent compared to 2001.

S

Trade Arabia

SEC goes digital with power bill distribution

02/02/2018

The Saudi Electricity Company (SEC) said it has already suspended the distribution of the paper bills to the subscribers' homes.

Any subscriber can know the value and details of the electr

Trade Arabia

Saudi Electricity secures $2.6bn bridge loan facility

21/01/2018

Saudi Electricity Company (SEC) said it has signed a SR9.75 billion ($2.6 billion) international syndicated bridge facility with eight major global banks to fund its future plans including that of a

Trade Arabia

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683
DARALARKAN 13.47 74,648,349

Valuation

SECO Sector Market
P/E
Price/BookValue
Dividend Yield (%)

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
NGIC 30.16 0.06 (0.19%)

Recent News

SABIC-MCC joint venture starts output

05/04/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula

Doha Bank’s third Indian branch opens today

04/04/2018

Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o

The Peninsula

SHUAA to act as liquidity provider to Bank of Sharjah

04/04/2018

Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than

Gulf News

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap