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Monday, December 24, 2012

Get ready fellow Israelis: Your electric rates may be going up again

YNet is reporting that on top of last year's outrageous rate hikes, Israel Electric Corp. wants to raise the rates again (Hat Tip: Mrs. Carl).

After a series of electricity price hikes in 2012, amounting to 21.7%, Israel Electric Corp is eyeing yet another increase in 2013, Ynet learned Sunday.

IEC is aiming for a 10%-15% increase in power rates, and deliberations with the Treasury and Energy and Water Ministry are said to be in full throttle.

A conservative estimate pegs the future hike at 12%.

Officials privy to the debates said that both the IEC and the Treasury are downplaying the talks, given the sensitivity involving yet another price hike for such a basic necessity, and the looming elections.

The negotiations are expected to conclude after the January elections, and once the IEC completes its 2013 operational projections.

The next two months will afford the government a window of opportunity to stop electricity prices from going up.

This is especially outrageous given that the government is in the process of turning over to the Electric Company NIS 1.6 billion in moneys owed to them by the 'Palestinian Authority' by not paying those revenues over to the PA (NIS 400 million per month for four months - one month done already).

Someone ought to make an election issue out of this.

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