Saudi Arabia’s Electricity and Cogeneration Regulatory Authority (ECRA) has announced new electricity tariffs as part of plans to double prices over time from January 1.
In a statement to Saudi Press Agency, the authority said the new prices aimed to raise economic efficiency, rationalise consumption of natural resources and boost the contribution of the non-oil sector.
The savings from the new price tariffs will partly be used to support a new citizen account programme to protect low to middle-income families from austerity measures including a new value added tax and other cost increases.
The Council of Ministers announced the policies of the system on Tuesday and said the first payments would be made on December 21.
Under the new electricity prices, consumption tariffs for residential, commercial, agricultural, healthcare, private education, and charitable institutions will increase.
Industrial and government tariffs will remain the same.
Immediate instructions have been sent to Saudi Electricity Company and electricity facilities to amend the current billing system.
