Saudi Electricity Company announced signing an agreement with Saudi Aramco to settle all demands related to the electronic transport segment related to cogeneration since 2007 and till the end of 2013.

Pursuant to the agreement signed on Tuesday, Saudi Aramco will pay SAR 1.5 billion to Saudi Electricity as part of the decree issued by the Electricity and Cogeneration Regulatory Authority (ECRA).

This deal will impact cash liquidity and cut consumer costs during Q3-14