Riyadh – Mubasher: The Saudi Electricity Company (SEC) said it will pay the tariff differential, which represents the power price differential between the current tariff and the new one, to the government after receiving a letter from the Ministry of Finance (MoF).

The new electricity tariff will be applied as of January 2018.

It is expected that applying the new tariff will not impact on the firm's revenues, costs, whereas the impact will be subject to the consumer's behavior, according to a statement on Wednesday to the Saudi Stock Exchange (Tadawul).

On Tuesday, the Saudi Electricity and Co-Generation Regulatory Authority amended electricity tariff for some subscribers and adjusted consumption segments.

SEC’s stock rose 3.29%, closing Tuesday at SAR 25.45.