Just over three months since the Ministry of Energy and Infrastructure electricity market reform came into effect, and the threshold of 100,000 customers in Israel switching their electricity supplier, which was the target for the end of 2024, has already been crossed. 42,000 households and businesses have applied to switch supplier while 80,000 other customers have already moved away from the Israel Electric Corp. (IEC).
Of those who have switched supplier 27,950 customers have a basic electricity meter and they would not have been able to move suppliers before the reform in July. A smart meter, which can be read remotely, entitles a household or a business to a bigger discount than a customer with a basic meter. The Ministry of Energy and Infrastructure and Noga Electricity Systems Management, which manages Israel’s electricity structure, have reported that there is also already a significant switching between private suppliers with 14,367 households and businesses currently in the process of switching between private suppliers.
There are 3.1 million electricity customers in Israel and with the 100,000 target for the end of 2024 already breached, the target has been raised to 200,000. The Ministry of Energy and Infrastructure and Noga plan launching a marketing campaign on the switch in November.
Here is a list of the discounts on IEC tariffs provided by the privately-owned suppliers:
Electra Power: 5%-7% to customers with a basic meter; 8%-10% to customers with a smart meter: and 20% for electricity use at night.
Amisragas:7% to its gas customers; 6.5% and one month's free gas per year to other customers.
Bezeq:7% to customers with a basic meter; 15%-20% to customers with a smart meter.
HOT: 10% to e-triple customers with a basic meter; 20% to customers with a smart meter.
Cellcom: 5%-7% to customers with a basic meter; 15%-20% to customers with a smart meter.
Pazgas: 7% to customers with a basic meter; 10% using the cashback app.
Partner: 5%-7% to customers with a basic meter; up to 20% to customers with a smart meter.
Published by Globes, Israel business news - en.globes.co.il - on October 6, 2024.
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