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Saudi Electricity SWOT and PESTLE Analysis

ID : 52467453| Dec 2023| 18 pages

COMPANY PROFILE -Saudi Electricity

Business Sector :Power

Operating Geography :Middle East

About Saudi Electricity :

Saudi Electricity Company (SEC) stands as the primary electric energy provider in Saudi Arabia, holding a virtual monopoly on the generation, transmission, and distribution of electric power through its extensive network of 45 power generation plants across the country. Forbes recognized SEC's significant presence by ranking it as the 5th largest company in the Kingdom and 578th worldwide in 2019. Established in 2000 by the Order of the Council of Ministers, the company resulted from the merger of existing regional electricity entities in the Central, Eastern, Western, and Southern regions, creating a unified joint stock company. Headquartered in Al Aridh, Riyadh, Saudi Arabia, SEC is a major player in the energy sector, employing approximately 32,000 individuals as of 2023, making it one of the largest employers in Saudi Arabia.
Saudi Electricity Company's mission is "to provide electricity and enough generating capacity using highly reliable and high readiness production techniques to meet the growing electricity demand. The company achieves this with an optimum use of resources and investing all capabilities towards reaching its main purpose, i.e., decreasing the cost of electrical power production." Saudi Electricity Company's USP or unique selling point lies in being the biggest producer of Electricity powering the Kingdom employing the largest number of people in the region.

Saudi Electricity Revenue :


SAR 72.1 million - FY ending 31st December 2022 (y-o-y growth 4%)
SAR 69.3 million - FY ending 31st December 2021

Ownership / Major shareholders :

As of July 2022, the major shareholders of the company are as follows –
1) Public Investment Fund (74.31%)
2) Government of Saudi Arabia (6.927%)
3) The Vanguard Group, Inc. (0.7229%)
4) Geode Capital Management LLC (0.2348%)
5) State Board of Administration of Florida Retirement System (0.589%)

Competitive Analysis of Saudi Electricity

SWOT
PESTLE
The SWOT/TOWS Analysis for Saudi Electric is presented below:
Strengths
Weaknesses
1. Monopoly in the production, transmission, and distribution of electricity in Saudi Arabia
2. Subsidized electricity tariff for residential consumers
3. Strategic geographic location, availability of cheap raw materials
1. Heavy dependence on the state due to high government funding
2. Operations are confined exclusively to the boundaries of Saudi Arabia
Opportunities
Threats
1. Increasing demand for electricity due to the fast growth of the economy
2. Move towards sustainable and intelligent infrastructure
3. Broaden its range of offerings by incorporating renewable energy sources
4. Enter into strategic partnerships to strengthen the power infrastructure
1. The regulatory environment has become more complex in Saudi Arabia
2. Recruiting and retaining qualified and talented manpower
SWOT & PESTLE (combined)
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Detailed SWOT Analysis of Saudi Electricity

Strength

This section is available only in the 'Complete Report' on purchase.

Weakness

This section is available only in the 'Complete Report' on purchase.

Opportunity

This section is available only in the 'Complete Report' on purchase.

Threat

1. The regulatory environment has become more complex in Saudi Arabia: The Company might face unforeseen risks associated with the regulations and provisions regulating the electricity sector, especially those risks related to the adjustment of systems, regulations, and decisions governing the electricity sector, as well as the non-compliance with the regulatory framework of the company's policies. As a result, the company has established a specialized unit to ensure compliance with internal and external regulations and to promote a culture of commitment. The tariffs as recommended by a regulatory agency to the Council of Ministers, in 2018, were revised upwards across all consumer segments. Specifically, residential electricity prices increased from 0.05 SAR/kWh to 0.18 SAR/kWh for monthly consumption of 1–6,000 kWh. Tariffs increased between 15 and 100% for high-usage residential consumers, between 15% and 33% for commercial consumers, 20% for industrial consumers, and 23% for all government entities. While expectations of further tariff increases in the short term are high, there remains uncertainty around the timing and the magnitude of such increases. Unlike some Gulf Cooperation Council (GCC) peers, SEC does not benefit from a transparent and predictable tariff-setting mechanism, let alone a total cost recovery principle embedded in a tariff formula, which is less beneficial compared to other frameworks in the GCC. In this way, political interference and bureaucracy in the regulatory environment can affect the company.

The remaining section under "Threat" is available only in the 'Complete Report' on purchase.

Major Competitors :

It is a monopoly therefore it has no competitors.

Key Business Segments / Diversification :

Saudi Electricity
Solar energy Wind energy Solar thermal energy Natural gas
Diesel Fossil fuel

Recent Acquisition / Mergers / Alliance / Joint Ventures / Divestitures :

Open Table Preview
Name
Business Segment
Year
Type
Objective/Synergy Achieved
Human HorizonsEV Manufacturing2023Joint VentureSaudi Electricity has signed a $5.6 billion deal with Chinese electric car maker Human Horizons to collaborate on the development, manufacture and sale of vehicles,
Hitachi EnergyTechnology2023Joint VentureHitachi Energy has signed agreements with the Saudi Electricity Company (SEC) and ENOWA, involving the supply of three HVDC transmission systems to ENOWA, the utility serving NEOM in Saudi Arabia's northwest.
Source: Company website and other reliable sources. The detailed table is available in the Complete Report.
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Saudi Electric SWOT and PESTLE analysis has been conducted by Abhishek Majumdar and reviewed by senior analysts from Barakaat Consulting.

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