The Israel Electric Corporation said Sunday it would uphold the reforms passed by the Knesset aimed at breaking the monopoly of the state-owned electric company. Director of the IEC, Moti Friedman, said the reforms were already taking effect and that the electric company will honor them and that the company was negotiating with the its workers over their rights. Friedman further noted that the IEC has established a regulatory committee to focus on implementing the changes as mandated by the Knesset, which will be headed by former IEC director Moshe Gavish. Under the reforms, by 2009 the company is supposed to split into at least four subsidiary companies, which will handle electricity production, distribution and transport. By 2013, the company should be 49 percent privately owned.