Daily Israel Report

Midnight Electricity Hike: 6.3%

Price jump is lower than the 8% planned, because of arrival of gas from Tamar rig.
By Gil Ronen
First Publish: 5/15/2013, 10:07 PM

Price hike
Price hike
Israel news photo: Flash 90

The price of home electricity will go up Wednesday at midnight by 6.3%, in accordance with a decision by the Electric Authority plenum ten days ago.

While steep, the rise is more moderate than the 8% that had been forecast, because of the arrival of natural gas from the Tamar rig.

Prices were to be hiked again, by an additional 4.4%, in 2014, but this plan has been scrapped.

The new price for a kilowatt hour is 54.03 agorot, instead of the previous 50.83 agorot.