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Saudi Electricity Company (SEC) has appointed Accenture to help the state-owned utility company manage its restructuring programme, which it is has said will lead to a more competitive electricity market in Saudi Arabia
The Saudi Electricity and Co-generation Regulatory Authority (ECRA) has already launched the Electricity Industry Restructuring Plan (EIRP) initiative, which provides the guidelines for the move towards a more competitive wholesale electricity market in the Kingdom.
“Our aim is to prepare our company and the industry to operate with maximum efficiency and effectiveness in an unbundled and eventually liberalised market,” said restructuring project director and HR senior vice president of SEC, Saud Al-Shammari.
In a company statement, Accenture said it would provide management consulting services for SEC to identify and manage various projects, including designing and running a new communication management programme and redesigning the intercompany processes between SEC and its subsidiaries.
Director of Accenture’s utilities industry group in the Middle East, Giampietro Sanna, said, “The restructuring of SEC is the most important and far-reaching strategic initiative the company is currently undertaking.”
At the start of the 2012 SEC created the National Grid Company, a wholly-owned power transmission subsidiary, as the first step in a multi-year restructuring of the utility company. Within this first phase of the restructuring programme, SEC has planned to create and spin off four generation companies and one distribution company.