BREAKING NEWS

IEC mulls rate hike to cover Palestinians' NIS 730m debt

By GLOBES

MARCH 28, 2013 23:18

Israel Electric Corporation is considering raising electricity rates to Israeli consumers to cover the debts of Palestinians, after Prime Minister Benjamin Netanyahu decided to release tax money owed to the Palestinian Authority, which Israel had withheld, in part to pay its debt to the IEC.

Israel currently supplies all electricity needs to the West Bank. Palestinian customers receive the electricity through the Palestinian Authority and the Jerusalem District Electricity Company Ltd., each of which operate in different cities in the territories. The two entities' aggregate debt to IEC currently totals NIS 730 million. Each month, IEC sends a warning letter about the debt, and it is in talks with the Palestinian Authority and the Jerusalem District Electricity Company, but no agreement has been reached on payment.

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