MARAFIQ sees 14% rise in sales cost on energy price hikes

28/04/2024 Argaam

MARAFIQ sees 14% rise in sales cost on energy price hikes

Logo of Power and Water Utility Company for Jubail and Yanbu (MARAFIQ)

Power and Water Utility Company for Jubail and Yanbu (MARAFIQ) said that the expected financial impact of energy price hikes for the year 2024 is estimated at 14% in the total cost of sales, based on the company’s latest audited annual financial statements.

 

In January, the utility received a notice from Saudi Aramco on raising energy prices starting Jan. 1, 2024, Argaam earlier reported.

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