Industry Minister says government mulls fixing industrial sector’s electricity rate

A government committee will be set up to review fixing tariffs of energy and electricity for industrial sector, Minister of Industry and Mining Bandar Alkhorayef has told Argaam.

The committee will issue its recommendations within 30 days as per the Royal Decree, the minister added.

Speaking on the sidelines of the ceremony to empower the private sector that was held yesterday in Riyadh, he said the study aims to fix prices until 2030.

He added the study includes review of electricity tariff for high energy-consuming factories, and will have a positive impact on factories as it directly relates to cost reduction.

The move follows the recent Cabinet’s decision to cover the incremental cost of expatriates working in all licensed industrial facilities for five years.