RIYADH: Saudi Electricity has kicked off a plan to install 10 million smart meters in homes across the Kingdom.
The SR9.55 billion ($2.5 billion) project will take more than three years to roll out with an estimated 3.5 million of the meters being purchased from local manufacturers, the Saudi Electricity Company said on Thursday.
The Gulf power generation sector has in the past been heavily subsidized which has encouraged profligate use and has insulated consumers from the real costs of generating electricity. However such subsidies are gradually being rolled back across the region.
