Lots of talk, but little action on GCC subsidy reform

Saudi Arabia’s Electricity and Cogeneration Regulatory Authority (ECRA) released its annual fiscal review on 1 July. Hidden inside the lengthy report was a startling figure: in 2012-13, Saudi government support to the Saudi Electricity Company alone was worth around $40bn, compared to an overall subsidy bill (electricity and gasoline) of roughly $13.3bn in 2010.