RIYADH: A report by the Saudi Electricity Company has revealed that studies are being conducted to open the electricity market to competition and regulate the industry through the establishment of separate companies for energy transport, sales and purchase, and distribution. The report, which also states that studies are being carried out for an energy transport and distribution network code, shows that the government accounts for 13 percent of the Kingdom's electricity consumption through 118,000 outlets across the country. Industry consumes 19 percent of electricity, according to the report, while agriculture accounts for only three percent of consumption. Another recent report said it expected the Kingdom's electricity production rate to increase by 49 percent by the beginning of 2019 in order to meet the projected rise in commercial and household demand. The annual rate of electricity consumption is also expected to rise to 220 terawatt hours in the same period. Individual consumption rates are expected to rise by nine percent. The reports state that the development of the energy sector has become a top priority in the Kingdom's development plans in view of the projected population growth and the boom in the real estate sector and other energy-dependent sectors.
