Part of Saudi Electricity’s SAR 2.7 bln overdue bills accumulated for 30 yrs

Saudi Electricity said the SAR 2.7 billion overdue bills announced yesterday as debts of ‘important persons’ in the kingdom, include debts accumulated for 30 years.

A large portion of such overdue bills had not been settled before the restructuring of electricity sector and the founding of the company in 2000, the company was quoted by the Saudi Press Agency as saying.

Saudi Electricity will apply a new regulation to avert further accumulations of overdue bills, which will apply to all, it added.

It said it subsidizes over 380,000 low income subscribers with around a billion riyals annually, and that it got permission from authorities to collect SAR 2.7 billion in arrears.