SEC forms company for power transmission
Saudi's electric company sets up firm to handle the Kingdom's energy
The Saudi Electric Company has announced it is to establish a national company to deal with the transmission of the Kingdom’s electricity, the Saudi Gazette has reported.
The company’s chief tasks will be to operate the electricity system and transmit power on high-voltage networks between production plants and major load centres across the Kingdom.
An important step towards developing and restructuring the nation’s electricity industry, the company’s founding will keep the sector competitive and prevent a monopoly by dividing electricity activities.
Separation of the Saudi Electric Company’s activities has been one of the main aims of the Electricity and Co-generation Regulatory Authority, which has helped to ensure generation, transmission, distribution, and service providing all have one or several independent companies, all benefiting from each other.
“The new restructuring will contribute in creating wider investment opportunities in all power activities,” said Dr Abdullah Al-Shihri. “The establishment of a national company for power transmission will enable the private sector to enter in this field as a partner and competitor.”