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June 28, 2016 / 22 Sivan, 5776

Posts Tagged ‘Israel Electric Company’

Losing in Arbitration, Egypt Must Pay Israel $1.76 Billion for Gas Stoppage

Sunday, December 6th, 2015

(JNi.media) The Israel Electric Corp on Sunday announced that Egyptian natural gas companies will pay compensation of $1.76 billion for stopping gas supplies in 2012, after Mohammed Morsi had been elected president. The termination, which followed months of terrorist attacks on the pipeline in the Sinai, reneged on a 20-year deal between Egypt and Israel. The state-owned IEC initially sued Egypt Mediterranean Gas for $4 billion in damages, but an international arbitrator awarded it only $1.76 billion plus interest and legal expenses.

IEC said it had sustained heavy damages as a result of Egypt’s blocking of gas supplies, forcing it to purchase more expensive fuel to generate electricity.

The Middle east Monitor noted that Egypt’s natural gas reserves had been depleted over the first decade of the 21st century, so that by 2008 “Egypt became a pure importer of energy.” In fact, after Egypt had exported natural gas to Israel since the mid-1990s, it will start importing Israeli gas in 2019 and 2020, for a period of 10 to 15 years. Apparently, well before the “Arab Spring,” still under the Hosni Mubarak regime, “Egyptian energy experts had warned their government of the consequences of continuing the strategy of exporting oil and natural gas for reasons associated with the imminent depletion of Egypt’s fuel resources.”

JNi.Media

Israel’s Parting Gift to Gaza

Wednesday, August 6th, 2014

The Israel Electric Company (IEC) has provided 10 generators to Gaza hospitals as a parting gift from the month-long Operation Protective Edge, despite a Palestinian Authority debt of more than $150 million in unpaid bills to the IEC.

The generators, with a 4.3 megawatt capacity, were delivered to Palestinian officials in Gaza at the Kerem Shalom checkpoint, according to the Rotter  online news website. The report failed to say whether the Palestinians who accepted the donation were connected to Hamas, or whether Israel would monitor whether or not the gift is used for Palestinian hospitals.

Israel Electric Company workers fitted with military flak jackets.

Israel Electric Company workers fitted with military flak jackets.

It should be noted that IEC workers had to be fitted with military-standard bullet-proof vests in order to protect themselves from the recipients of the humanitarian gesture.

Jewish Press News Briefs

Israel Electric Corp. Threatens to Cut the Lights to PA

Monday, May 5th, 2014

Israel is threatening to turn off the lights to the Palestinian Authority – at least temporarily – because the entity owes more than a billion shekels to the Israel Electric Corporation.

The question is whether the PA even intends to pay up, given its new deal to form a unity government with a terrorist organization dedicated to the total destruction of Israel.

The debt has reached 1.5 billion, to be exact. It grows by another NIS 80 million a month. Of that, NIS 566 million is a direct debt of the Palestinian Authority. NIS 966 is owed by the Jerusalem District Electricity Company, which serves eastern Jerusalem.

It’s not clear whether the PA pays anything at all to reduce the debt although IEC auditor Brightman Almagor told the Globes business news service there does not appear to be any risk the debt will not be paid. However, IEC also readily admits there is no real way to force the PA to pay its bill.

Recently Israel has begun to take action on its own in the form of sanctions. The state now funnels some payments to the IEC from tax monies collected on behalf of the PA that normally would have been transferred to the entity instead.

According to Globes, IEC chairman Yiftach Ron-Tal wrote last week to Prime Minister Binyamin Netanyahu, informing him, “We have no choice but to take legal action against the state, against the Palestinian Authority, and Jerusalem District Electricity Company Ltd. At the same time, we intend to restrict the supply of electricity.”

The problem is, legal experts have told the Knesset that cutting electricity to the PA could be considered a “war crime” in the international arena — complicating things even more.

Hana Levi Julian

Electric Co. CEO Returns from Vacation as 16,000 Still Without Electricity

Sunday, December 15th, 2013

Some 16,000 households are still without electricity, 3 days after the snow storm hit.

At the height of the snow storm, an estimated 60,000 households were without electricity.

While praising the very hard work of Israel Electric Company (IEC) employees in the field who worked around the clock to restore electricity, Israeli citizens are beginning to complain about the apparent lack of preparedness on the part of the government and the Israel Electric Company (IEC) in particular.

Some people still without electricity are wondering when Israel reverted into a third world country.

On Saturday morning, Eli Glickman, the General Manager of the IEC cut his overseas vacation short and returned to Israel.

Meanwhile, residents of Gush Etzion weren’t surprised by the mass blackouts.

“The IEC has not been able to provide us with uninterrupted electricity going on years”, one resident of Efrat told JewishPress.com. “For us here in Gush Etzion, forget snow, a light rain drizzle is enough to knock out the electricity for hours on end.”

Gush Etzion is currently in the middle of a class action suit, one of the first in Israel, against the Israel Electric Company, for their unreliable service to the region.

Shalom Bear

Printed from: http://www.jewishpress.com/news/breaking-news/electric-co-ceo-returns-to-israel-as-16000-still-without-electricity/2013/12/15/

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