Al Jouf Agricultural says tariff changes to have no direct impact

ALJOUF
6070 -3.52% 34.02 -1.24

Riyadh — Mubasher: Al Jouf Agricultural Development Company disclosed that the recent adjustments to electricity, water, and sewage service tariffs will have no direct material financial impact on its production costs or overall financial performance.

The company issued this clarification following announcements by the Saudi Power Procurement Company and the National Water Company (NWC) regarding tariff revisions implemented under the governance procedures for energy and water product pricing.

Al Jouf Agricultural stated that its operations remain unaffected because it relies on electricity generated by its own internal power plants using liquid fuel rather than the national grid.

Furthermore, the listed company does not source the water required for its production processes from NWC.

Al Jouf Agricultural noted that it will provide further disclosures to shareholders regarding any potential material financial impact should the company’s operations be connected to the national electricity transmission or distribution networks in the future.

Source: Mubasher Source: {{details.article.source}}