Since the beginning of the COVID19 pandemic in early 2020, Saudi Arabia has committed at least USD 240.00 million to supporting different energy types through new or amended policies, according to official government sources and other publicly available information. These public money commitments include:
- At least USD 240.00 million for unconditional fossil fuels through 2 policies (1 quantified and 1 unquantified)
- No public money commitments identified for conditional fossil fuels
- No public money commitments identified for unconditional clean energy
- No public money commitments identified for conditional clean energy
- No public money commitments identified for other energy
Supporting fossil fuel energy
Supporting clean energy
By energy type, Saudi Arabia committed at least USD 240.00 million to oil and gas (at least USD 240.00 million to unconditional oil and gas).
In addition, no public money commitments identified for coal.
Further, no public money commitments identified for hydrogen based on fossil fuels.
Finally, no public money commitments identified for multiple fossil fuels.
A considerably larger amount of public money committed to supporting the economy and people of Saudi Arabia through monetary and fiscal policies in response to the crisis may also benefit different elements of the energy sector. However, these values are not available from official legislation and statements and therefore are not included in the database. Meanwhile, in addition to monetary and fiscal measures, the database lists other policies and regulations that can also provide benefits to producers and consumers of different energy types.
These public money commitments are additional to many other government policies that had existed to support different energy types before the COVID19 pandemic.
Public money commitments to fossil fuels, clean and other energy in recovery packages, USD billion, as of 12 August 2020
|Read more||Jurisdiction||Category||Policy name||Policy type||Sector||Energy type||Stage||Mechanism||Legislation and endorsing agency||Arm of Government||Primary and secondary stated objective of the policy||Date of entry into force||Implemented repeal date, if any||Value as stated (specify currency)||Value committed, national currency||Value committed, USD||Value disbursed, national currency||Date of announcement||Value disbursed, USD||Policy background||Links to official sources||Links to additional sources|
|National||fossil unconditional||Subsidized fuel prices halved against the backdrop of international oil price plunge||Other||Multiple sectors||Oil and oil products||Energy use (all energy types, consumption in transport, household use, buildings etc)||Budget or off-budget transfer (DT)||Saudi Aramco||Government||to adjust domestic fuel prices according to changes in export prices of crude oil||11/05/2020||SAR||Unquantified||0||Unquantified||11/05/2020||Unquantified||Saudi Arabia has a long-standing policy of subsidizing consumers of petroleum products by regulating their prices at a below-market price level. In early 2020, oil price plummeted on the global market, which warranted a pass-through of price reductions on domestic consumers in Saudi Arabia. The May cut in domestic prices amounted to around 50%, bringing them at the below-market level again. Fuel price adjustment remains subject to change, according to changes in export prices of crude oil.||
|National||fossil unconditional||Additional electricity subsidies as a relief measure for commercial, industrial and agricultural sectors||Fiscal||Multiple sectors||Oil and gas||Energy use (all energy types, consumption in transport, household use, buildings etc)||New or extended regulation (IT)||Order of the King/Ministry of Energy||Government||"To confront the financial and economic impacts on the private sector and economic activities most affected by the implications of the novel Coronavirus (COVID-19) pandemic"||15/04/2020||SAR||900.00 million||240000000||Unquantified||15/04/2020||Unquantified||Saudi Arabia had regulated - that is subsidized - electricity prices before the COVID19 crisis. The Energy Ministry affirmed the King's order of a further 30 per cent discount for April and May 2020 in the value of electricity bills for commercial, industrial and agricultural sectors, with possible extension as part of the new package. The commercial and industrial sectors are optionally allowed to pay 50% of the value of the monthly electricity bill for the months of April, May, and June, as the remaining dues are to be collected in divided payments for six months starting from January 2021 with the possibility of postponing the period of payment if it is necessary. More than 1.6 million accounts will benefit from this discount.||