Saudi Electricity Company (SEC) will spend over SR45 billion until the end of this year. Ali Al-Barrak, Chief Executive Officer of SEC expected this in a recent interview with AlArabia TV. SEC has approved a capital budget of more than SR55 billion for 2012;20 billion riyals have been disbursed during the past six months.He affirmed that "SEC" is responsible for providing these services to keep pace with the construction boom in the Gulf region and service expansions, particularly in the water and electricity to this boom.
Barrak pointed out that the company has established so far three companies with the private sector to contribute to the construction of a number of stations, to meet the growing demand for energy with the development of new projects, which are on the way to create a fourth company in the coming period.
Asked if there would be changes in electricity prices in the near future with the entry of the summer, Barrak said that no changes in electricity prices, but will be applied to the slides, which are gradual,so it may increase the value of invoices to customers due to increased consumption.