Power sector to incur SAR 60 bln deficit by 2019: Saudi ECRA

Saudi Arabia’s Electricity & Co-Generation Regulatory Authority (ECRA) expects the power sector to incur a fiscal deficit of around SAR 60 billion by 2019, Al Hayat newspaper has reported, citing unnamed sources.

ECRA slammed the government’s power industry mechanism, describing it as being unclear and unsustainable. It also added that proceeds from the sale of power cannot cover the related capital expenditure.