Saudi ECRA posts 2% revenue decline in 2016

14/09/2017 Argaam Special

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.

 

Revenues (SAR mln)

Source

2015

2016

Variation

SEC

75.02

72.20

( 4% )

National Grid

33.46

32.87

( 2% )

SWCC

11.72

12.83

9%

Tihama Power

1.06

1.41

33%

Saudi Aramco

1.35

1.20

( 11% )

RAWEC

1.06

0.90

( 15% )

Marafiq

2.97

3.07

3%

Shoaiba Power & desalination

2.56

2.20

( 14% )

SQWEC

1.15

1.02

( 11% )

JWAP

3.64

3.19

( 12% )

Dhuruma Electricity

1.29

1.17

( 9% )

Hajr Electricity

2.51

2.73

9%

Others

3.99

4.01

1%

Total

141.78

138.8

( 2% )

 

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. 

 

Expenditures (SAR mln)

Source

2015

2016

Variation

Salaries, wages and allowances

48.46

44.31

( 9% )

Social insurance

4.07

4.31

6%

End of service bonus

3.59

3.57

( 1% )

Health insurance

4.36

5.10

17%

Scholarships & training

2.21

2.01

( 9% )

Studies & consultancies

16.98

13.36

( 21% )

Other OPEX

19.62

22.20

13%

Capital expenditures

6.37

6.90

8%

Establishing company’s headquarter provision

20.00

20.00

--

Returned amounts to some licensees

9.73

9.73

--

Total

135.38

131.75

( 3% )

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