Electricity reserves dwindling precariously

IEC: Unprecedented demand will leave just 100 megawatts of electricity production reserves today as blackouts beckon.

The risk of power blackouts will reach a peak today, with Israel Electric Corporation's (IEC) (TASE: ELEC.B22) announcement this morning that unprecedented demand will leave it with just 100 megawatts of electricity production reserves.

IEC expects demand to reach 11,800 megawatts today, 100 megawatts shy of its full electricity production capacity of 11,900 megawatts. Under these conditions, IEC may have to initiate blackouts if a major production unit that produces 400 megawatts or more of electricity breaks down.

An IEC spokesman called on the public to conserve electricity by not using power-hungry appliances, such as dishwashers and washing machines, between noon and 5 pm.

Earlier this week, IEC CEO Eli Glickman told the Knesset that the public has responded by reducing electricity consumption by 200 megawatts in the past few days.

Electricity demand reached an all-time high of 11,370 megawatts yesterday, due to the heat wave.

Published by Globes [online], Israel business news - www.globes-online.com - on July 18, 2012

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

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