Saudi electricity consumption fell year-on-year in the first half of 2023 as government and industrial consumption levels dropped. Despite the overall 0.2% drop in consumption over the first six months of the year, peak demand hit a new all-time high last quarter, underlining the need to continue increasing generation and transmission capacity amid Saudi Arabia’s economic expansion drive.

The reduction in demand, coupled with increased gas availability as Saudi Arabia increased production from its non-associated gas fields (MEES, 11 August), helped mitigate the seasonal increase in oil burn for power generation, keeping volumes available for export. (CONTINUED - 1584 WORDS)