Riyadh – Mubasher: The Saudi Electricity Company’s (SEC) stock levelled down 9.16% to SAR 23.12, registering its sharpest losses since 6 October 2008 on Wednesday by 1:45 pm KSA time on the Saudi Stock Exchange (Tadawul).

SEC’s stock saw trading of 16 million shares, through 6,760 transactions, with a liquidity of SAR 371.6 million.

The stock pushed the utilities sector down to 8.83%.

In the meantime, the benchmark Tadawul All Share Index (TASI) decreased 0.50%, or 5.30 points, to 7,087.76 points.

Earlier on Wednesday, the firm stated that it will pay the tariff differential which represents power price differential between the current tariff and the new one, to the government after receiving a letter from the Ministry of Finance (MoF).