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      Free Daily Israel Report
      Archive: 8/8/2011
      08:52
      Reported

      News Brief

        8/8/2011, Av 8, 5771

      10% Electric Rate Hike Anticipated Monday


      The Electric Authority is scheduled to vote, Monday, on an increase in rates which will be implemented immediately. The rates are expected to go up ten percent, with an additional ten percent later.

      Finance Minister Yuval Steinitz announced, on Sunday, that the Treasury was reducing the excise tax and the purchase tax on fuel for power plants, with the aim of eliminating the need for one of the ten-percent hikes.