By Mohammed Idries
Riyadh-Mubasher: Saudi Arabia's private sector and manufacturers should reduce energy production costs, said Abdullah Al-Shehri, governor of Electricity and Cogeneration Regulatory Authority (ECRA), noting that lifting subsidy is not a sustainable solution.
On the sidelines of the Saudi Water and Electricity Forum held currently in Riyadh, Al-Shehri told Mubasher that when oil prices decline, the energy production faces a major challenge.
The cost of renewable energy is still higher than that of traditional energy production on the current oil prices, the governor said.
He added that the government's subsidy to the authority has not been defined yet.
The energy industry suffers an annual deficit of nearly SAR 10 billion, which is financed by the government and private sector.
Translated by Abdul Maguid Aboshahla
