By Andy Sambidge
Global consulting firm works with Saudi Electricity Co to prepare for more competition
Global consulting firm Accenture said on Monday it is helping Saudi Electricity Company (SEC) to prepare for a comprehensive restructuring, designed to increase competition in the Gulf kingdom.
The Saudi Electricity and Co-generation Regulatory Authority (ECRA) recently launched an initiative which provides guidelines to move towards a more competitive wholesale electricity market in the kingdom.
As part of the move, Accenture will provide management consulting services, helping implement and operate a strategic project management capability for SEC to identify and manage various projects, Accenture said in a statement.
Accenture will provide management consulting services and help implement and operate project management capability for Saudi Electricity, the company said today in a statement on Business Wire. It will also assist the Saudi utility redesign the process needed to work with its new operating companies.
Under the management consulting contract, Accenture will also assist the Saudi utility redesign the process needed to work with its new operating companies, which consist of four generation units and one distribution business.
“Our aim is to prepare our company and the industry to operate with maximum efficiency and effectiveness in an unbundled and eventually liberalised market,” said Saud Al-Shammari, restructuring project director and HR senior vice president of Saudi Electricity Company.
“The challenge we have ahead of us is one of technology, culture and processes. Accenture’s strengths in the utilities sector will be of value as we transform our operations to meet our goals”.
Giampietro Sanna, director of Accenture’s Utilities industry group in the Middle East, added: “The restructuring of Saudi Electricity Company is the most important and far-reaching strategic initiative the company is currently undertaking.
"Accenture will draw on its global management consulting capabilities and industry experience to support and provide SEC with the necessary tools to help it transition to a competitive market.”
SEC recently created the National Grid Company, a wholly owned power transmission subsidiary, as the first step in a multi-year restructuring of the company.
Within this phase, SEC will also create and spin off four generation companies and one distribution company.
Saudi Electricity Company is one of the largest utility companies in the GCC, both by market capitalisation and in terms of its installed power generation capacity.
It is responsible for generation, transmission and distribution of electricity throughout the kingdom.For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.