The Israel Electric Company (IEC) and the Palestinian Authority (PA) reached a temporary settlement Thursday, after the IEC introduced rolling blackouts in protest to outstanding debts.
Under the agreement, the PA will transfer some 300 million shekel (about $75,800) in tax money to the IEC in exchange for a halt on the blackouts, which the IEC introduced earlier this week after multiple warnings over the debt.
The IEC announced late last month that "due to a mounting debt worth nearly 1.8 billion shekels ($459 million), we have decided that...electrical supply will be cut," with the cut to include an hour each morning and another hour at night, until the PA starts to pay up.
The IEC followed through on this threat on Monday, cutting off electricity mid-afternoon for 45 minutes; on Wednesday, electricity was cut to Jenin and Shechem (Nablus) for a brief period as well.
The PA acquires 95% of its electricity in Judea and Samaria and 75% of its electricity in Gaza from Israel.
The Israeli supply to the PA-assigned areas continued over the years despite the huge debt and despite the fact that Hamas continues to carry out terror attacks aimed at Israeli forces and civilians alike.