MARAFIQ says energy prices raised by Aramco

One of MARAFIQ’s desalination plants

Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) received an official notice from Saudi Aramco on an increase in prices of energy products used in production, starting from Jan. 1.

 

The expected financial impact in 2025 is estimated to be an uptick in energy prices equivalent to nearly 13.48% of the company's cost of sales, based on the 2023 audited financial statements, the company said in a statement to Tadawul today, Jan. 2.

 

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The related financial impact would appear on MARAFIQ’s financial statements starting from Q1 2025.

 

The company is working to mitigate the financial impact of this price hike by enhancing production efficiency, plants reliability, optimizing asset use and curtailing the company‘s overall expenditure, the statement added.

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