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Saudi Arabia to privatise electricity sector by 2014
- Saudi Arabia: Monday, September 24 - 2012 at 09:06
The Saudi Electricity Co (SEC) has said the kingdom aims to liberalise its power industry beginning with the privatisation of the electricity sector by 2014, Arab News has reported. The restructuring will involve dividing SEC's electricity generation business into similar companies that will compete with each other and SEC's independent power providers (IPPs). The SEC will also set up a single buyer of electricity from the four electricity generation companies and the IPPs. A single separate transmission company has already been established and has been in operation since January 2012. "We are working now at establishing four generation companies and one distribution company by 2014," Amer Al-Sawaha, head of SEC's IPP programme, said at the MEED Saudi Mega Infrastructure Projects Summit.
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