IEC blacks out Treasury

With just 5 minutes warning, the Israel Electric Corporation cut off power at the Ministry of Finance.

Israel Electric Corporation (IEC) (TASE: ELEC.B22) has shut down the Ministry of Finance. Ministry officials said that IEC representative gave the ministry five minutes warning that its power would be shut off. Ministry sources told "Globes" that the ministry has no air conditioners, elevators, computers, or lighting.

Earlier today, IEC said that it expected demand to reach 11,850 megawatts today, 50-100 megawatts shy of its full electricity production capacity of 11,900 megawatts.

IEC has asked the public to conserve electricity, especially after 2 pm. It asked the public not to use power-hungry appliances, such as dishwashers, washing machines, ovens, and vacuum cleaners, between noon and 5 pm. It also asked the public to set air conditioners at 25 degrees.

Given that electricity demand rose strongly today, and is close to IEC's production capacity, to stabilize the grid and prevent extensive blackouts, the utility is expected to initiate equitable and measured rolling blackouts around the country during the afternoon.

Published by Globes [online], Israel business news - - on July 18, 2012

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

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