Oman electricity sector's installed electricity capacity, consumption predicted to grow at CAGR of around 16% and 12.5%, respectively, during 2011-2014 period
January 25, 2012
– Power sector in the Middle East has been growing strong for the past few years. According to a latest report by RNCOS, Oman represents the fastest growing power sector in the entire Middle East region. Rapidly growing economy and increasing residential demand have fueled growth in the country’s power sector, and thus, despite economic slowdown, the electricity production and consumption in the Arab state orchestrated double-digit year-on-year growth. The report, “Middle East Power Sector Analysis” foresees that the developments in the Oman electricity sector will augment in near future, with the installed electricity capacity and consumption likely to grow at a CAGR of around 16% and 12.5%, respectively, during 2011-2014.
Besides Oman, countries like the UAE, Saudi Arabia, and Jordan, among others also have strong growth potentials. The governments in the Middle East countries have liberalized policies for the electricity sector, and are currently in the process of formulating privatization strategies. This, in turn, has attracted significant investments in the private sectors. The privatization of the sector will not only strengthen these countries’ power generation infrastructure, but also facilitate towards efficient management of transmission and distribution, providing a desired balance between power demand and supply mechanisms. Overall, the Power sector in the Middle East has been growing phenomenally, attracting the international players to invest into the generation, transmission, and distribution of electricity in the region.
The report, which is spread over 95 pages, is an outcome of extensive research and objective analysis of the Middle East power sector, mainly focusing on potential regional markets. The research provides country-level statistics and analysis on electricity installed capacity, supply-demand, and consumption trends. A separate GCC grid interconnection analysis and country-level renewable developments facilitate an all-round market understanding. Brief profiles of key players in the market, and recent developments have also been included in the study, which presents the most unbiased picture of the industry.