Saudi Arabia will implement new power tariffs starting from July 1, its electricity and water minister Abdullah bin Abdul-Rahman al-Husayen told reporters on Saturday.

Saudi Electricity said it expects around a SR3.2 billion ($853.3 million) rise in the power sector's annual revenues, due to the planned change in power tariffs.

The change in power tariffs will be for government, commercial and industrial sector, the company said in a statement.

The firm said it would earn average revenue of 0.137 riyals per KWH from 0.125 riyals after the tariff change.-Reuters