Saudi Electricity seeks to save SAR 15 billion by 2019

Saudi Electricity Company is aiming to save at least SAR 15 billion by the year 2019 as part of its strategic goal to cut back on its use of natural resources, said chief executive Ziad Alsheiha.

The company, in cooperation with the kingdom’s energy organization, is aiming to cut back on its oil consumption by saving at least one and a half barrels of oil and gas per day. 

The process has already started this year, and includes 22 other initiatives looking to save energy, Alsheiha said. 

Saudi’s electricity company currently has 7.3 million customers, and an annual increase of 500,000 new subscribers, he said while speaking at the China-Arab cooperation energy forum.

The company, with support from the state, was able to deliver electricity to 99 percent of the kingdom and is currently seeking to install more than seven million electricity meters for its customers.