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Rise in Electricity Tariffs will Fund SEC Projects
June 5, 2010 – The Saudi Electricity Company (SEC) will raise prices for industrial, commercial, and government customers beginning July 1, 2010. Due to the new tariff structure, SEC expects its revenue to increase $853 million (SR3.2 billion). Price changes will not affect residential customers, which represent 53 percent of SEC’s customer base. Price increases will result from the recent approval of a new tariff structure by the Electricity and Co-Generation Regulatory Authority for industrial, commercial, and government customers. According to SEC, the profit increase from the new tariff structure will help finance the $80 billion (SR300 billion) in projects deemed necessary to meet the Kingdom’s rising demand in electricity, while at the same time, promote power conservation in Saudi Arabia. The Kingdom’s tariff rate is one of the lowest in the world. |
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