Electricity rates to rise 6%

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Tariffs were to rise 4.4% this year and 3.7% next year, but a higher hike is required due to power station problems and higher demand.

The Public Utilities Authority (Electricity) has asked to raise electricity rates by 6% in the coming year. The recommendation was submitted today to the members of the authority's plenum who are expected to approve it.

In addition to the 6% rise in tariffs, the professional representatives of the authority will propose an alternative by which the upcoming rise is put together with the 2014 rise to make an immediate rise of 8%.

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Electricity rates were supposed to rise by 4.4% this year and by 3.7% next year but in practice a higher hike is required because of a series of events such as higher than expected demand last summer, many breakdowns in power stations, and higher than planned purchases of electricity from solar producers.

Published by Globes [online], Israel business news - www.globes-online.com - on March 12, 2013