We strive to achieve the perfect balance between the common interests of our various stakeholders, notably the shareholders who expect generation of profits and increase in the volume of sales of electric energy services and products to achieve the anticipated return on investment in the company shares.
On the other hand, we have customers who look forward to obtaining highly reliable, flexible, and quality services at competitive prices. To realize the wishes of both parties, we have adopted a partnership methodology to serve joint and common interests and benefits.
As regards shareholders, actions have been taken to identify the local and regional partnership opportunities in electric energy generation and transmission projects necessary to meet the increasing demand for electricity services during the upcoming two decades and reduction in the volume of capital investments in addition to the increase of profit margins in order to achieve the expectations of both parties.
As for customers, efforts are well underway to assure the operational reliability of the electric system in line with our commitment to our current and future obligations. In addition, the necessary methods and techniques have been worked out so that we can come closer to our customers to become aware of their experiences, requirements, and expectations about our services and power production. These efforts are made in recognition of our customers as partners via our constant communication and interaction in anticipation of a long-term relationship with them.
The principle of partnership in our electricity projects stems from our commitment to put our joint vision into effect to face the challenges of growth in the demand for electric energy. Within the framework of our future trends for encouraging the private sector to take part in us in the construction, operation, and ownership of electric energy generation and transmission projects, we have embarked on applying the partnership methodology to create the appropriate investment environment to attract and motivate local and international investors via the separation of strategic activities to activate and streamline the bases of partnerships.
Moreover, this kind of partnerships will contribute to the reduction of capital investments and at the same time enhance the reliability of the electric system of the National Grid. In view of the forecasted increase in the Saudi population and the significant economic growth, forecasts for the increase in the demand for electric energy by 2020 are estimated to reach about 85,000 MW with an average annual increase of 7% - 8%.