Keeping the lights on: Saudi Arabia to liberalise electricity sector
Sayonara Saudi Electricity Company? Kingdom plans to privatise electricity sector
Click here to add Amer Al-Swaha as an alert
Disable alert for Amer Al-Swaha,
Click here to add International Monetary Fund as an alert
Disable alert for International Monetary Fund,
Click here to add Saudi Electricity Company as an alert
Disable alert for Saudi Electricity Company,
Click here to add U.S. Securities and Exchange Commission as an alert
Disable alert for U.S. Securities and Exchan ...
Saudi Arabia is likely to privatise its electricity sector by 2014 as a part of a bid to liberalise the entire energy industry, the state-owned Saudi Gazette newspaper reported on Sunday.
A restructuring of the country's electricity sector will divide up the Saudi Electricity Company (SEC) -- currently the sole provider of electricity in the Kingdom -- into smaller companies.
"We are working now at establishing four generation companies and one distribution company by 2014," Amer Al-Swaha, head of SEC's Independent Power Provider (IPP) programme told the Gazette.
"The four generation companies will have similar capacity and technology and will not be based on geographic region. They will all have the same starting point. This will allow us to compare their relative performance," he added.
SEC plans to establish a state-owned power supplier, which will buy electricity from the four privatised firms and sell it to Saudi citizens.
Demand for electricity has surged in Saudi Arabia over the past few years, reaching 51,000 megawatts (MW) in 2011, 9 per cent higher than the year before.
Al-Swaha expects demand for electricity to climb to 120,000 MW by 2030.
The population of Saudi is expected to increase from its current 28 million to 31 million by 2015, and hit 37 million by 2020, according to International Monetary Fund (IMF) calculations.
- Nip, tuck: Dubai's grand plans for being a major player in medical tourism
- Zain, UNHCR, Facebook to bring free internet access to urban refugees in Jordan
- Yemen Central Bank headquarters to relocate from Sanaa to Aden
- IMF report details the crippling economic effects of conflict in MENA
- Start Up Lebanon entrepreneurs head to Silicon Valley Roadshow
- Saudi 'likely' to bailout Pakistan energy with $15 billion
- Middle East Electricity 2004 to light up Iraq’s power sector
- US Consultants Win Contract for Restructuring Saudi Arabia’s Electricity Sector
- Spotlight on Saudi Arabia: KSA expands electrical supply, power plan largest in the Middle East
- Saudi Arabia, Yemen Sign Electricity Agreement