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FINANCIAL NEWS
New regulations to lower Saudi energy consumption by 60%
06 May 2013
(MENAFN) Saudi Electricity CEO, Ali al-Barrak, stated that when the Kingdom starts to execute the new regulations, the country’s energy consumption is likely to decline 60 percent, reported Bloomberg citing al-Riyadh.
However, Al-Barrak stressed that the new measures do not include increasing electricity tariffs.
He added that the government will bring in rules for air condition use, as 80 percent of the country’s energy consumption is from air conditioning.
Furthermore, other regulations will be introduced to enforce insulation requirements for buildings.
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Bank of Bahrain and Kuwait BSC announces the transfer of HSBC Middle East, Bahrain Retail Business to BBK.
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