The Israel Electric Corporation reported that only 30-40% of the gas supply has been restored following Sunday's blast.
Following the blast on Sunday, which halted Egyptian gas supplies to Israel for the third time this year, Israel Electric Corporation (IEC) (TASE: ELEC.B22) has reported that gas supplies were resumed this morning. However, IEC said that only 30-40% of the contracted amount is being provided.
The company also reported that it is able to provide immediate electricity demand through increased use of coal production units, increased gas supply from the Yam Tethys field and use of other fuels such as heavy industrial fuel and diesel.
IEC ends the report by saying that together with the government and Public Utilities Authority (Electricity) it is examining solutions that will enable the supply of electricity needs beyond the immediate period, as required.
Published by Globes, Israel business news - www.globes-online.com - on July 6, 2011
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