Price of electricity to rise by 2.9%

Electricity Authority decides on increase after expectations of tariff hike.

Mordechai Sones,

Electricity
Electricity
iStock

After countless assessments on the issue, including one by senior energy officials that electricity rates will rise by more than 6 percent in January, the plenum of the Electricity Authority decided to raise tariffs by 2.9 percent.

Data affecting the decision to update the tariff included connection of solar facilities to the electricity grid and the reform that was carried out at IEC.

Another factor that was supposed to lead to a significant increase in electricity prices was the coal tax increase planned for 2019.

Last week, however, Economy Minister Moshe Kahlon gave in to protest against the cost of living increase and announced cancellation of the tax hike.

At the beginning of 2018 the electricity rate was reduced by 2.3%.




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