A recent International Monetary Fund report noted that in 2018, Saudi Arabia’s energy price reforms generated 41.3 billion Saudi riyals (SAR) (11 billion US$) in new non-oil revenue for the government. The power sector contributed 25% of this revenue gain (10.1 billion SAR or 2.5 billion US$). The power sector’s future non-oil fiscal revenue contributions will depend largely on the long-term demand for electricity in the Kingdom. Electricity demand has stagnated in the last three years. It is not yet clear whether this is due to short-term cyclical or long-term structural changes in the economy.
Strategy and Planning Director Nawaz is the Strategy and Planning Director who was the program director for Energy Transitions and Electric Power. Before joining… Nawaz is the Strategy and Planning Director who was the program director for Energy Transitions and Electric Power. Before joining KAPSARC, he was chief economist at the Saudi Electricity Company (SEC) where he led the strategic transformation project and advised on strategic planning issues. Prior to SEC, Nawaz was director of market strategy at Enbala, and senior economist at the Ontario Independent Electricity System Operator.