The first-ever disruptions are in response to the growing Palestinian Authority debt.
Israel Electric Corporation (IEC) (TASE: ELEC.B22) today began disrupting power supplies to Palestinian cities in the West Bank. Restricting the flow of electricity is in response to the Palestinian Authority's growing debt to the Israeli government owned IEC. The debt is now approaching NIS 2 billion.
The first two Palestinian cities to be hit by the restrictions today were Nablus and Jenin. Power was restricted between 2 pm and 3pm this afternoon. Further hour-long restrictions in electricity supply to West Bank cities were expected this evening.
Sources familiar with the subject said that the IEC intends to continue disrupting supplies to the Palestinian Authority in the coming days until arrangement are made over the debt. The IEC has already warned the Palestinian Authority and Israel's Prime Minister's Office, Ministry of Defense and IDF that it plans such disruptions due to the growing debt.
Published by Globes [online], Israel business news - www.globes-online.com - on February 23, 2015
© Copyright of Globes Publisher Itonut (1983) Ltd. 2015
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