IEC CEO: We'll avoid power cuts

Eli Glickman: We've increased the reserves. Israel is a leader in terms of reliable power.

"As things stand now, we have much greater reserves than on Thursday, and later this week, we'll make sure that we'll have larger reserves. I therefore doubt that there will be power outages," Israel Electric Corporation (IEC) (TASE: ELEC.B22) told “IDF Radio" (Galei Zahal) today.

Last Thursday, a breakdown at one of the 575-megawatt generating units at the Rothenberg Power Station in Ashkelon caused power outages at several locations around the country, and forced IEC to declare an Orange Alert. Last night, IEC announced that it expected record electricity demand of 11,200 megawatts during Sunday afternoon.

Glickman added, "We had some breakdowns that were unrelated to last week's load. It was unrelated to the shortage of reserves."

“IDF Radio": It seems that a lot depends on the public.

Glickman: "The State of Israel is a leader in terms of reliable power delivery. The level of service here is of the highest level, and that is good. I wish to praise the public's response on Thursday. Every degree of air conditioning saves 5% of electricity, and today, too, and in the days ahead, we must continue to conserve."

Published by Globes [online], Israel business news - www.globes-online.com - on July 15, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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