Saudi Electricity Co. (SEC) says its losses increased during the first quarter of this year due to rising costs of energy purchased from independent producers.
SEC’s net loss during the first quarter widened to SR 657 million, according to an SPA report.
The loss reported during the same period last year was SR 583 million, marking a 13 percent increase. The loss during the previous quarter was SR1.09 billion.
Saudi Electricity losses widen in Q1 2013
