Saudi Electricity Company

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Recent Articles

• Gulf markets rebound12 March 2008

  Stocks across region push markets to higher close, bar Saudi which drops for fifth time in six days.

• Saudi boosts domestic power supply19 February 2008

  Saudi Electricity says $40bn needed in investments by 2017 to reach demand.

• Saudi power project in prequalification stage6 February 2008

  Some 45 companies and consortia previously submitted expressions of interest for the project.

• Saudi Electricity posts biggest loss in years21 January 2008

  Utility reports loss of $144.8mn in Q4, twice as large as most pessimistic forecast.

• Saudi Electricity to shell out $7.4bn to meet demand12 December 2007

  Utility unveils largest ever budget outlay for 2008 as consumption and costs soar.

• Saudi Electricity awards $1bn Rabigh contracts8 December 2007

  Three local firms win contracts to expand generating capacity of power plant by 60%.

• Kelman takes Saudi treble19 November 2007

  Delivery of transformer monitoring units for Saudi Electricity Company to be fast-tracked.

• Saudi Electricity earnings helped by summer heat1 November 2007

  Gulf's largest utility increases Q3 profit by 5.8% to $454.4mn, beating forecasts.

• SEC job awarded17 October 2007

  Zamil Cool Care has signed an agreement worth US $5.8 million (SAR21.5 million) with Saudi Electric Company (SEC).

• Arab energy giants eye coal imports27 June 2007

  Four Gulf Arab states consider importing coal for power as they struggle to meet domestic demand.

• Saudi Electricity to spend $51bn to up capacity20 June 2007

  Company will raise money from Islamic bonds to increase capacity by 60%.

• Saudi Electricity to sell $533mn in bonds20 June 2007

  Company needs to up its generating capacity to meet increasing demand for power.

• Saudi to invest $50bn in power18 June 2007

  Saudi Electricity says investment is needed to meet electricity demand up to 2015.

• SEC to invest $24 bn by 201012 June 2007

  Gulf's largest utility will sell Islamic bonds during next ten to 15 years to finance expansion.

• Saudi Electricity says has Aramco support30 May 2007

  Utility says it is getting the support it needs to avoid summer power outages.

• Saudi Electricity seeks Aramco help29 May 2007

  Utility needs Aramco to invest in more gas exploration and fuel pipelines to avoid power cuts this summer.

• Saudi Electricity to slash 900 jobs23 May 2007

  Utility firm invites applications from employees for early retirement.