As Israel endured a fourth consecutive day of temperatures over 38° in all part of the country, Minister of Energy Yuval Steinitz ordered Israel Electric Corporation (IEC) (TASE: ELEC.B22) to be on high alert for record electricity consumption. That record duly arrived at 13.55 when consumption rose to 13,809 megawatts, beating the previous record in July 2019 of 13,568 megawatts. The record consumption is also an indication that the Israeli economy is back working normally, because during the lockdown average electricity consumption was down by 30%.
The Ministry of Energy said, "From Sunday, the electricity grid is coping with exceptional weather with hot dry winds during the spring. Our predictions are that peak electricity consumption will be 15% above the previous record consumption for May."
To meet demand, the IEC has been operating disused coal power stations that are for emergency situations only.
The Israel Meteorological Office has forecast six consecutive days from last Saturday of temperatures above 38° on the coastal plain for the first time ever. The heat wave will ease off on Friday and break on Saturday.
Published by Globes, Israel business news - en.globes.co.il - on May 19, 2020
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