Price of electricity to rise again in 2012, c'tee warned

By NADAV SHEMER
August 10, 2011 17:16

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

The Knesset Finance Committee approved a directive Wednesday to reduce the excise on diesel used in electricity production by 69 percent, effective until the end of the year.

Finance Minister Yuval Steinitz ordered the cut late Sunday, helping to halve a price hike by the Israel Electric Corporation hike from 20% to 10%. However, an IEC official appearing before the committee warned that the cost of electricity to the consumer could rise again on January 1.

“The IEC estimates that consumption of diesel and fuel oil for electricity production will increase in 2012, due to the suspension of Egyptian gas deliveries and to smaller deliveries from Israel’s gas reserves,” IEC fuels director Dina Biran said.

Those comments were backed by Public Utilities Authority (Electricity) Chairman Amnon Shapiro, who confirmed that the IEC’s costs had risen 20% as a result of having to use more expensive fuels to compensate for the lack of natural gas.

Related Content

Breaking news
August 21, 2018
U.S. would impose more economic pain if Russia does not change

By REUTERS