Electricity rates highest ever as oil surges

A kilowatt-hour of electricity in the commercial sector rose to almost 0.52 agora.

By SHELLY PAZ
November 12, 2007 08:21

 
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As winter arrives, bringing with it high heating costs and longer hours of lighting, electricity prices rose to an all-time high Sunday as the price of one kilowatt-hour for household use jumped 4.25 percent to almost 0.46 agora per kWh (kilowatt-hour), an increase of 4.25% from the previous 0.44 agora rate. A kilowatt-hour of electricity in the commercial sector rose to almost 0.52 agora. The increase was approved by the Israeli Authority for Public Services, acknowledging the 16.5% jump in the price of coal prices, 10% higher diesel fuel and mainly the surge in oil prices, which are approaching the $100 a barrel mark, touching $98.62 last week. The last increase in the price of electricity was two months ago, in September. That increase was sought by the Israel Electric Company to improve its financial condition and to develop new power stations.

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