Saudi ECRA posts 2% revenue decline in 2016

Saudi Arabia’s Electricity & Cogeneration Regulatory Authority (ECRA) recorded SAR 138.8 million in revenue in 2016, down 2 percent year-on-year (YoY), according to the authority’s annual report.

Saudi Electricity Co. (SEC) accounted for 52 percent, or SAR 72.2 million of these revenues. National Grid Co. accounted for 24 percent, or SAR 32.9 million while Saline Water Conversion Corporation (SWCC) totalled SAR 12.8 million, or 9 percent of total revenues.

ECRA’s revenues are generated from issuing licenses, permits, services as well as the related fines.

ECRA’s expenditure retreated by 3 percent YoY in 2016 to SAR 131.8 million, of which salaries and wages accounted for 34 percent, or SAR 44.3 million.

Social insurance costs as well as studies were valued at around SAR 17.7 million, while other expenses reached nearly SAR 22.2 million.

ECRA’s cash reserves totalled SAR 150.1 million, while provisions taken for building a permanent headquarters amounted to SAR 120 million.