Saudi Energy Company announced its financial results for the first quarter ended March 31, 2026, reporting a 9.4 per cent increase in operating revenue with improved efficiency driving a net profit increase of 89.3 per cent to SAR1.8 billion ($480 million).

Khalid AlGhamdi, CEO of Saudi Energy,  said: "Electricity demand in the Kingdom continues to rise, driven by economic diversification, population growth, and the transition towards a more diversified energy mix. Saudi Energy supports this growth by developing essential electricity grid infrastructure, enhancing its resilience, improving reliability, and raising service standards for subscribers. The company’s strong financial and operational performance in the first quarter of 2026 was underpinned by the continued expansion of its regulated asset base, improved operational efficiency, and increased energy production capacity and operational availability."

He added: "Energy is central to Saudi Vision 2030, a pillar of transformation and a key driver of prosperity. We are committed not only to building infrastructure, but also to developing a resilient, integrated, and intelligent energy ecosystem that serves future generations, supports long-term ambitions, and delivers sustainable growth and lasting value for all stakeholders." -OGN/TradeArabia News Service