Brace Yourselves: Residential Electricity Rates Are Going To Rise This January
However, not for all.
According to the Saudi Gazette, the Council of Ministers has approved a gradual revision of energy prices in the country including electricity tariffs starting from Jan. 1. 2018.
Residential consumption of 1-6000 KW/h per month will now cost 18 halalas KW/h. If one’s consumption is more 6000 KW/h then the cost will be 30 halalas KW/h.
For commercial consumption, the rates are somewhat similar with consumptions of 1-6000 KW/h per month costing 20 halalas KW/h and consumptions above 6000 KW/h costing 30 halalas KW/h.
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In addition to these charges, VAT may also be applied to electricity bills.
The Electricity and Cogeneration Regulatory Authority, ECRA, has announced that “This step will raise our economic efficiency, will strengthen our non-oil sectors as they become our economic development engine, and will rationalize the consumption of natural resources for future generations.”
The changes to the electricity tariffs as pointed out by ECRA will help redirect support to the most deserving beneficiaries through the Citizen’s Account.
