MIDDLE EAST intend to develop economic power trading .”
There are big savings to be made here , and GCCIA has estimated this market could be worth $ 27 billion over 25 years . Even with enough domestic generation capacity , a more sophisticated system will ultimately enable countries beyond the GCC to balance energy demand and supply , and at the same time save fuel and reduce the environmental impact of power generation .
Energy trading is a long term goal . A more immediate project , currently at the tender stage , is the GCC High Voltage Test Lab being built in the east of Saudi Arabia . “ The power utilities have to send equipment overseas for testing after repair or maintenance , which is costly . The lab ’ s an excellent example of the kind of business opportunity we are seeking , related to our business and with real benefit to the GCC countries , and we are currently 5 percent shareholders .”
Energy efficiency is difficult to assess in the GCC , where the market is skewed by varying rates of subsidy . This gets in the way of real economic trading , based on ‘ real ’ prices . Ahmed Al Ebrahim wants to work towards a fair pricing model that can be used by all and that would really encourage power trading between the GCC nations . December 2015 sees GCCIA ’ s next Forum which will focus on reforming energy pricing in the GCC .
High voltage tower on the Fadhili site www . gccia . com . sa 53