BREAKING NEWS

Israel Electric announces 20% rate hike; says out of gas

"Electricity rates will rise by 18 percent," Public Utilities Authority chairman Amnon Shapiro told a special session of the Knesset Economic Affairs Committee, which convened to discuss the issue.
Shapiro presented figures which broke the reasons for the rate hike: disruption of natural gas deliveries from Egypt (7%), the directive by Environmental Protection Minister Gilad Erdan for Israel Electric Corporation to use diesel instead of fuel oil (7%), and a routine update because of delays in the construction of power stations (4%).
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