The Public Utilities Authority (Electricity) assembly decided this morning that electricity rates will rise 3.7% in January. This was announced today by Public Utilities Authority (Electricity) Chairperson Dr. Assaf Eilat at the Israeli Institute of Energy and Environment Energy Market Forecast Conference. "Coal prices rose 40%-45% in the past few months," Eilat said, explaining the rise in prices. "Electricity production rates have seen minor declines and consumer rates have risen in a relatively measured manner considering the drop in prices in the past 18 months. This is the final outcome for the rate, which eventually results in less drama for the people sitting here, compared with forecasts." RELATED ARTICLES Israel wards off major electricity grid cyber attack Israel sets new winter electricity record The new rate will be NIS 0.4726 per kilowatt-hour. The share of the production component in the overall rate dropped 0.5%. In order to increase market certainty and reduce price fluctuations, the authority's assembly decided that there will be no further price change in 2017. It will be updated again in December 2017 and apply for 2018, while relying on the appropriate terminology for the current electricity market structure. Published by Globes [online], Israel business news - www.globes-online.com - on December 19, 2016 © Copyright of Globes Publisher Itonut (1983) Ltd. 2016
