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FINANCIAL NEWS
Saudi Arabia to see power demand triple by 2032
19 May 2010
(MENAFN) Saudi Arabia expects electricity demand to triple to 121,000 megawatts by year 2032 up from the current 40,000 MW, driven by growing population in the country, Reuters reported.
Governor for regulatory affairs at the Electricity and Cogeneration Regulatory Authority (ECRA), Abdullah Al-Shehri, said that the liquid fuel consumption is also expected to increase over the years. This raises government concerns over using the petroleum internally for producing electricity rather than exporting its major sources of revenue.
Al-Shehri noted that national gas supply is expected to remain at current levels.
It is worth mentioning that Saudi Arabia announced earlier that it will invest up to $80 billion to boost installed power capacity to 67,000 MW by 2020, up from 46,000 MW now.
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