ECONOMY

Saudi Arabia announces new electricity tariffs

Saudi Electricity and Cogeneration Regulatory Authority (ECRA) has announced new tariffs. (AFP)

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.

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Last Update: Tuesday, 12 December 2017 KSA 17:04 - GMT 14:04
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