In a television address yesterday Minister of Industry and Electricity Dr. Hashem Bin Abdullah Yamani stated that the recent cabinet decision to restructure the power sector includes mechanisms for it to deal financially with both international and local institutions. In addition, the new Saudi Electricity Company (SEC) has the capability of establishing subsidiary companies in areas such as generation and distribution. The company will also train its national workforce, and actively follow a policy of research and development.
The Ministry of Industry and Electricity continues to call for rationalization of the consumption of energy, and SEC will implement this. Dr. Yamani remarked that the charges for electricity in the Kingdom are nevertheless very reasonable, referring to the new schedule of tariffs being applied.