Electricity rates set to rise for second time in 2022

Electricity rates set to rise for second time in 2022

The price tag of coal, which creates 23% of Israel’s energy, has virtually doubled from $210 for every ton to $380 for each ton this year.

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Israel’s Public Utilities Authority (Electricity) will fulfill future week to discuss a hike in electric power tariffs thanks to the large selling price maximize in coal. The General public Utilities Authority would like a price tag hike in July, regardless of the political pressures not to elevate selling prices.

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Energy rates are generally raised when a 12 months and in January the energy tariff for home consumption was improved 5.7%. But given that then the rate of coal, which is however made use of to develop 23% of Israel’s electrical power, has almost doubled from $210 for every ton to $380 per ton. The condition has been partly eased by the Ministry of Finance canceling excise tax on coal of NIS 105 per ton, which will continue to be in impact right until March 2023. Even with this a price tag hike is nevertheless needed to offset the rise in coal price ranges and sources in the electricity marketplace feel that the hike could be as higher as 15%.

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Printed by Globes, Israel enterprise information – en.globes.co.il – on June 30, 2022.

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© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

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