Five Saudi authorities signed in Riyadh on Sunday an agreement for the production of smart digital electricity meters intended for use within the Kingdom.
The deal seeks to support and promote local content and the development of electrical manufacturing in the Kingdom.
The agreement was signed by Chairman of the Board of Directors of Local Content and Government Procurement Commission Ghassan bin Abdurrahman Al-Shibl, Chairman of Board of Directors of Saudi Electricity Company, Dr. Khalid bin Saleh Al-Sultan, Advisor to the Deputy Minister for Electricity Affairs, Dr. Yasir Al Turki, and Governor of the Electricity and Cogeneration Regulatory Authority Dr. Abdulrahman Al-Muhanna.
Under the agreement, the winner of the Smart Meters Project tender will be required to manufacture at least 35 percent of all smart meters in Saudi Arabia, or 3.5 million out of a total of 10 million meters.
Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz confirmed that the agreement reaffirms the government’s commitment to empowering local content.
He pointed out that the digital meters project will present a qualitative leap in servicing consumers and advancing the whole electricity sector.
SEC Chairman Sultan, for his part, said his company aims through the smart meters project to achieve high reliability in electricity services and make billing reliable and easy to read for subscribers.
The new meters will ensure the standards of accuracy, transparency and clarity upheld by the World Bank and applied in Saudi Arabia.