BREAKING NEWS

Israel Electric Corporation to pay upfront for southern suppliers

JULY 29, 2014 18:18

The Israel Electric Corporation will make advanced payments to owners of photovoltaic electricity production sites located within a 40-kilometer radius of Gaza, as a gesture to help alleviate financial burdens on southern business owners, the company announced on Tuesday.

In order to avoid harming the cash flow of photovoltaic producers and due to the fact that it is impossible for electricity meter readers to physically arrive to many areas surrounding Gaza, IEC CEO Eli Glickman determined that the company would make immediate payments in estimated sums.

"Advanced payment to electricity suppliers, in light of the prevailing situation today, is a present need," said National Infrastructure, Energy and Water Minister Silvan Shalom.

"I hope that many other companies will implement similar measures, for the benefit of suppliers and business owners in the South and throughout the country."

Also on Tuesday, the Public Utility Authority declared that it would be extending the completion dates for dozens of solar installations located within 40 kilometers from Gaza by three weeks. Due to dangers presented by the security situation, work on many such facilities has been stalled, and the PUA said it would continue to examine whether extending the deadlines further is necessary.

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