12/06/2017 01:57 AST

SAUDI Electricity Company (SEC) has succeeded in realizing a number of technical and financial achievements during the first quarter of this year, with the ability of company experts and engineers to achieve a 16.6% increase in the power generation compared to the planned targets, as well as converting 17% of the diesel fuel generation units to use light fuel and implementing maintenance projects and programs at a number of plants without needing a help from foreign companies or local contracting companies, a technical report revealed.

The report said that the company managed to improve efficiency of the generation units by the end of the first quarter of this year by 3% and by 35.6% during the first three months of this year compared to 34.5% during the same period of 2016. Meanwhile the technical staff were able to making 17% of the total diesel generation units to use the light fuel and therefor reducing diesel consumption by 31.8% compared to the first quarter of last year.

It pointed out that the SEC>s strategy of relying on the company>s engineers and technicians to implement the technical projects and maintenance programs in many plants such Alqurayyah Combined Power Plant and Tabuk and Ghazlan Plant and other plants that have contributed to reducing assignment of these projects to foreign companies unless absolutely necessary. It also contributed to improving performance of generation units and saving the company millions of riyals at about 48 plants in all regions of the Kingdom, particularly that many of these plants are fully managed and operated by highly qualified national cadres, noting that the national cadres, including engineers and technicians represent around 85% of the staff of some plants such as Alqurayyah Combined Power Plant which is reckoned one of the most efficient plants worldwide.

Executive Vice President for Generation Eng. Khalid bin Abdulrahman Al-Tuaimi said the company specialized technical teams, thanks to Allah, have managed to convert a number of generation units at Tabuk 2 Plant from using diesel to crude fuel without making the company bears operational and financial expenses in million riyals. The company engineers have also implemented a project for installing and operating a number of technical systems for mobile units of Rafha plant, in addition to making use of spare parts at the company>s warehouses, modifying them to conduct maintenance works for many plants such as Ghazlan Plant, without the need to import new and expensive parts.

He added «the engineers and technicians at Alqurayyah Power Plant have managed to perfectly implement a number of precise maintenance programs that had been carried out by international companies, the matter that will save company a lot of money.

These achievements came as an extension of the efficiency of the company staff and their capabilities to achieve a big stride in improving the performance of 691 generation units in all regions of the Kingdom, with varying techniques from steam, combined, gas and diesel, up to reaching the company generation capacity of 74.3 gigawatts by the end of last year, after improving the actual thermal efficiency of the generation plants, saving 14.6 million of equivalent fuel of crude oil at about SR 348 million, while saving 13.3 million barrel of diesel at SR 427 million in the same year".

Eng. Al-Tuaimi further said the capabilities of the generation cadres are not only restricted to improving the operational efficiency and increasing productivity, but also managed to realize prominent achievements in the field of industrial security and safety, and no occurrence of any accidents during the first quarter of this year in light of strict implementation of the standards and procedures of the international safety program (Stars-5). In addition to the standards of environmental compatibility, pollution control, reviewing the company plan to know compliance


Saudi Gazette

68pc of SEC purchases from local factories

02/03/2018

The Saudi Electricity Company (SEC) said that 68 per cent of its purchases, during the past four years, came from 52 local factories, with a growth rate of 720 per cent compared to 2001.

S

Trade Arabia

SEC goes digital with power bill distribution

02/02/2018

The Saudi Electricity Company (SEC) said it has already suspended the distribution of the paper bills to the subscribers' homes.

Any subscriber can know the value and details of the electr

Trade Arabia

Saudi Electricity secures $2.6bn bridge loan facility

21/01/2018

Saudi Electricity Company (SEC) said it has signed a SR9.75 billion ($2.6 billion) international syndicated bridge facility with eight major global banks to fund its future plans including that of a

Trade Arabia

Ticker Price Volume
NAYIFAT 13.94 229,739
ALRAZI 43.00 800
RIBL 24.84 6,676,931
ALRAJHI 85.00 7,711,297
ABC 0.35 370,000
A.OTHAIMMARKET 11.90 545,416
ZAINKSA 10.82 1,868,409
SAUDIELECTRICITY Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
ACWAPOWER 442.20 -2.00 (-0.46%)
TAQA 2.86 0.00 (0.00%)
EMPOWER 1.72 0.01 (0.58%)
MARAFIQ 54.70 0.50 (0.92%)
DEWA 2.49 0.03 (1.21%)
EEC's capital optimization plan to shore up financial position and sustain growth: CEO

14/09/2024

RIYADH: Saudi master developer Emaar The Economic City's SR8.7 billion ($2.32 billion) capital optimization plan is a "strategic response" to its current financial challenges, according to its CEO. <

Saudi Gazette

Arabian Mills set final IPO price at $17.59 per share as CEO details growth vision

12/09/2024

Saudi wheat flour producer Arabian Mills for Food Products Co. has set its final initial public offering price at SR66 ($17.59) per share on the Tadawul main market. During the book-building proces

Arab News

SABIC-MCC joint venture starts output

04/05/2018

SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.

Saudi Gazette

S&P affirms QIB rating at A-

05/04/2018

Standard & Poor's (S&P) has affirmed QIB's Issuer Credit Rating at A-, Qatar's leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB's rating

Gulf Times

Qatar National Bank seeks growth in Southeast Asia

05/04/2018

Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told

The Peninsula