Saudi Energy

Saudi Energy
السعودية للطاقة
TypePublic
Tadawul: 5110
ISINSA0007879550 Edit this on Wikidata
IndustryElectric utility
Founded3 May 2000; 26 years ago (2000-05-03)
Headquarters
Riyadh
,
Saudi Arabia
Key people
  • Najem Abduallah Alzaid (Chairman)[1]
  • Khalid Bin Hamad Al-Ghonon (CEO)
RevenueIncrease $SAR 75.33 billion (2024)[2]
Increase $SAR 18 billion (2023)[3]
Increase $SAR 10.25 billion (2023)[3]
Total assetsIncrease $SAR 500.8 billion (2023)[3]
Total equityIncrease $SAR 256.3 billion (2023)[3]
Subsidiaries
  • National Grid SA Company
Websitewww.se.com.sa/en

Saudi Energy (SE) (Arabic: السعودية للطاقة) formerly the Saudi Electricity Company (SEC) is the Saudi electric energy company. It enjoys a near monopoly on the generation, transmission and distribution of electric power in Saudi Arabia through 45 power generation plants in the country.[4] In 2019, SE was ranked by Forbes as the 5th largest company in the Kingdom, and the 578th worldwide, with total annual sales of $17.1 billion.[5] It was ranked 16th on Forbes Middle East's Top 100 Listed Companies 2025 list.[6]

History

The company was formed in 2000 by Order of the Council of Ministers through a merger of existing regional electricity companies in the Central, Eastern, Western and Southern regions into a single joint stock company.[7][8]

In 2009, the Electricity and Co-generation Regulatory Authority (ECRA) announced its intention to split the company into four generation companies and separate transmission and distribution companies to encourage competition in the domestic utilities sector.[9] A transmission company – National Grid SA – was established in 2012 to operate the National Grid SA.[10][11]

In 2014, ECRA was said to have hired advisors on the break-up of the company.[12] ECRA also confirmed the new generation companies will be open to foreign investment.[10]

The company is 81.24% owned by the government, both directly (74.31%) and through Saudi Aramco (6.93%).[4]

A Saudi Energy building in Khobar

In 2015, SEC, Taqnia Energy and King Abdulaziz City for Science and Technology (KACST) agreed to collaborate to build and operate the first standalone solar power station in the country.[13]

For the first six months of 2022, net profit fell 6.6% to SAR7 million, while total comprehensive income slipped 0.14% to SAR7.7 million.[14]

Logo of King Abdullah International Gardens
logo used before the rebrand

In February 2026, the Saudi Electricity Company officially rebranded as Saudi Energy (SE), a change intended to reflect the company’s growing role within the Kingdom’s broader energy sector.[15]

See also

References

  1. ^ "Saudi Electricity Company Unveils Two Executive Appointments". Market Screener. Paris: Superperformance SAS. January 24, 2024. Retrieved March 15, 2024.
  2. ^ "Saudi Electricity Company Reports 18% Revenue Growth, Reaching 88.7 Billion SAR in 2024, with Record-High Capital Investments of 60 Billion SAR". se.com.
  3. ^ a b c d Annual Report 2023, Saudi Electricity Company
  4. ^ a b "Saudi Electricity to be divided into four separate companies". Solar GCC Alliance. 2014-03-25. Retrieved 2015-08-30.
  5. ^ "Saudi Electricity". Forbes. Retrieved 2020-01-28.
  6. ^ Mughal, Waqar. "Saudi Electricity Company (SEC)". Forbes Lists. Retrieved 2026-05-04.
  7. ^ "Saudi Electricity Company Successfully Rolls out SAP Plant Maintenance Solution" (PDF). Tata Consultancy Services. 2013. Retrieved 2015-08-30.
  8. ^ Al-Jeshi, Salman (2012-08-01). "Merger of electric companies — is it time to evaluate?". Arab News. Retrieved 2015-08-30.
  9. ^ "Saudi plans to split up state electric company". Reuters. 2009-03-30. Retrieved 2015-08-30.
  10. ^ a b Hoey, Joshua (2014-11-25). "Electricity regulator chief calls for hike in power tariff". Saudi Gazette. Retrieved 2015-08-30.
  11. ^ "Saudi Electricity Company goes digital with its Engineering Drawings and establishes kingdom-wide EDMS". Bentley Systems. 2012-11-01. Retrieved 2017-09-17.
  12. ^ Nair, Dinesh; Martin, Matthew (2014-05-07). "Saudi Arabia Said to Hire HSBC for Breakup of SEC Power Monopoly". Bloomberg Business. Retrieved 2015-08-30.
  13. ^ "Saudi Electricity Company's net profit falls on higher costs". Zawya. 2022-09-15. Retrieved 2022-09-15.
  14. ^ Staff Writer; ZAWYA. "Saudi Electricity Company's net profit falls on higher costs". www.zawya.com. Retrieved 2022-09-15.
  15. ^ Arab News (27 February 2026). "Saudi Electricity Co. launches new corporate identity — Saudi Energy". Retrieved 2 March 2026.
Wikimedia Commons logo
Wikimedia Commons has media related to Saudi Electricity Company.
  • Official website—(in English)
  • Official website—(in Arabic)
  • Paper that an employee at SEC authored in 2017 on the effects of jointly reforming industrial fuel and residential electricity prices in Saudi Arabia.[1]
  1. ^ Matar, Walid; Anwer, Murad (2017). "Jointly reforming the prices of industrial fuels and residential electricity in Saudi Arabia". Energy Policy. 109: 747–756. doi:10.1016/j.enpol.2017.07.060.

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