National Grid signs SAR 1.3 billion deal: what it means for Saudi Electricity stock

Published on 10/08/2026 at 13:03 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Saudi Electricity reported SAR 102.2 billion revenue versus SAR 88.7 billion in fiscal 2025. For Saudi Electricity stock, customers reached 10.1 million.

Saudi Electricity, SA0007879550, Illustration mit AI erstellt.

Saudi Electricity (ISIN SA0007879550) was tied to a SAR 1.3 billion infrastructure agreement dated October 2, 2026. As MEED reported, Soudah Development signed the agreement with National Grid SA, Saudi Electricity's transmission subsidiary, for work at the Soudah Peaks project.

Grid investment adds a concrete test

The agreement places Saudi Electricity's transmission network inside a wider infrastructure program with a clearly stated contract value. For the company, the relevance is operational rather than immediately financial because the report describes the project scope but does not state a direct revenue contribution for Saudi Electricity.

The contract also connects the utility to Saudi Arabia's continuing project pipeline. That matters because transmission investment can expand the network required by new developments while adding execution obligations for the subsidiary.

Fiscal 2025 showed stronger earnings

Oil and Gas News reported that Saudi Energy, formerly Saudi Electricity, generated SAR 102.2 billion of operating revenue in fiscal 2025 versus SAR 88.7 billion in the previous year. The same report put gross profit at SAR 20.8 billion versus SAR 17.5 billion and net profit at SAR 12.98 billion versus SAR 6.87 billion.

The comparison includes an important qualification: the 2024 figures contained a SAR 5.7 billion non-recurring settlement related to historical fuel and power quantities and pricing differences. On a normalized basis, the report said operating profit grew 12.4 percent and net profit grew 7.4 percent in fiscal 2025.

Stock remains tied to regulated growth

Saudi Electricity serves an estimated 10.1 million customers and operates across electricity production, delivery and distribution. Its business also includes electrical and fiber optic networks, which broadens the infrastructure footprint beyond power generation.

On Tadawul, Saudi Electricity was at SAR 15.29 on October 8, 2026 at 1:44 p.m. AST, down 1.80 percent from SAR 15.57. The same session data placed the 52-week range at SAR 13.00 to SAR 18.48 and the market capitalization at SAR 63.7 billion.

The infrastructure agreement, fiscal 2025 comparison and regulated customer base give investors three separate measures of the company: project exposure, earnings scale and network reach. The key distinction is that the SAR 1.3 billion contract value describes the project, not reported Saudi Electricity revenue.