BREAKING NEWS

Electricity authority: 'Increased rates unrelated to us'

The increase in consumer prices was imposed on the electricity company due to reasons unrelated to them, Public Utilities Authority (Electricity) chairwoman Orit Farkash-Hacohen told Army Radio Tuesday.
With the stabilization of the Egyptian government "it will be possible to moderate rates," she said.At its weekly meeting, the Public Utilities Authority (Electricity) Monday approved the new electricity rate, on the basis of the dynamic model that was set up this past July.
According to the model, the rate is calculated at the end of each month, where a change of more than 3.5 percent in the tariff requires approval. The current large deviation is a result of the complete halt in gas deliveries from Egypt to the Israel Electric Corporation over the last three months.
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