Electricity demand in Saudi Arabia is stabilizing, and indeed has fallen somewhat from its 2015 peak, reducing the need for suppliers to add further power generation.

Saudi electricity utility SEC told its 1H earnings call on 5 August that peak 1H load across its grid was 59.60GW, up only fractionally on the 59.30GW 1H 2018 peak. This quarter may see demand surpass last year’s annual high of 61.74GW, but 2015’s peak of 62.26GW is some way off.

SEC – owned 74% by...