Riyadh – Mubasher: Saudi Electricity Co. on Thursday posted a net loss of SAR 1.374 billion ($366.4 million) for the first quarter of the year, a drop of 29% from SAR 1.940 billion ($517.3 million) reported in the same period in 2015.
Retreating losses were due to increased operating revenues from a rise in tariffs added to a decline in the amount of energy purchased from independent producers, despite an 80% surge in energy prices, the company said in a bourse filing.
