Riyadh – Mubasher: Saudi Electricity Company’s (SEC) said that it is planning to privatise its assets by the end 2016, in a way to increase efficiency in the Kingdom’s utilities, SEC chairman,Saleh Al-Awaji, told Saudi-owned Al-Arabiya on Wednesday.
SEC would be split into several companies by the end of the year to increase efficiency, according to Saudi Arabia’s utility regulator in February.
Awaji noted that that decline witnessed in the power demand in the Kingdom, for the first time in the company’s 15-year history, was attributed to the removal of government subsidies.
