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Israel Electric Corporation

 

Israel Electric Corporation

Israel Electric Corporation
Government-owned corporation
Industry Electric utilities
Founded 1923 (1923)
Founder Pinchas Rutenberg
Headquarters Haifa, Israel
Area served
Israel
Key people
Yiftach Ron Tal (Acting Chairman since 2011)
Ofer Bloch (CEO)
Products Electricity generation, transmission and distribution
Revenue  27.7 billion (2013)[1]
 1.4 billion (2013)[1]
 (808) million (2013)[1]
Number of employees
9,782 permanent employees
2,894 temporary employees
Slogan With you every moment (Hebrew: איתך בכל רגע‎)
Website iec.co.il
The Israel Electric Company Ltd in the early 1920s

Israel Electric Corporation (Hebrew: חברת החשמל לישראל‎, abbreviation: IEC) is the main supplier of electrical power in Israel. IEC builds, maintains and operates power generation stations, sub-stations, as well as the transmission and distribution networks.

The company is the sole integrated electric utility in the State of Israel and generates, transmits and distributes substantially all the electricity used in the State of Israel. The State of Israel owns approximately 99.85% of the Company.[2]

Contents

  • History 1
  • Today 2
  • Generation capacity 3
  • Palestinian territories 4
  • See also 5
  • References 6
  • External links 7

History

The Jaffa Electric Company was founded in 1923 by Pinhas Rutenberg, and was later absorbed into a newly created Palestine Electric Company.[3]

The Company was incorporated in Mandatory Palestine with its main object to produce, supply, distribute and sell electricity to the consumers. Israel Electric Corp. was first registered under the name "The Palestine Electricity, Corporation Limited", which was changed in 1961 to its present name "The Israel Electric Corporation Limited".

Today

The IEC is one of the largest industrial companies in Israel, owning and operating an extensive nationwide power distribution network fed by 17 power station sites (including 5 major thermal power stations) with an aggregate installed generating capacity of 10,899 MW. Most of the base load electricity is generated using coal, though by the end of 2010, the company expects the majority (55%) of total installed generation capacity to be in the form of natural gas plants. In 2009, the company sold 48,947 GWh, of electricity. To meet projected future electricity demand, IEC capital investment program provides for the addition of 2,578 MW of installed capacity by the end of 2011. In addition, the government of Israel is seeking private companies to generate an additional several thousand megawatts by the middle of the 2010s which will then be distributed by the IEC.

The Orot Rabin power station owned by the IEC has Israel's second tallest structure, a chimney, standing at 300m, while Tel Aviv's distinctive Reading Power Station was one of its earliest.

The current CEO is Eli Glickman.

Generation capacity

Plant t Fuel Capacity [MW]
Steam powered power plants coal, fuel oil, natural gas 6,612
Aeroderivative jet turbines natural gas, diesel 504
Industrial gas turbines natural gas 1,700
Combined cycle natural gas 2,848
Total 11,664.[4]

Palestinian territories

The IEC also provides power to the Palestinian territories. They are one of three sources of power for the Gaza Strip,[5] and to the West Bank.[6]

On February 23, 2015 the IEC intentionally cut off the West Bank power for abut 45 minutes due to uncollected debts.[7] Two days later they again cut off power, stating it was a warning to the Palestinian Authority to begin paying down the debt, which at that time was NIS 1.9 billion.[8] The majority of the debt is held by the PA and Jerusalem District Electricity Company (JDECO) which is a Palestinian electricity firm which buys its power from IEC and serves east Jerusalem, Bethlehem, Ramallah and Jericho areas.[9] The IEC stated that they are losing NIS 85 million per month on power being supplied to Nablus and Jenin that they are not being paid for, causing the majority of their quarterly loss.[10] The Palestinians accused IEC of collective punishment,[11] however the IEC stated that they must operate independently and are treating this as they would any customer who does not pay their debts.[12]

See also

References

  1. ^ a b c Annual Rreport Year 2013, Page 306
  2. ^ The Israel Electric Corporation Ltd.
  3. ^ Shamir, Ronen (2013). Current Flow: The Electrification of Palestine. Stanford: Stanford University Press.
  4. ^ Installed Capacity. IEC (2009)
  5. ^ Israel's supply of electricity to Gaza no act of generosity
  6. ^ Israel cuts off electricity to thousands of West Bank Palestinians
  7. ^ Israeli government says not behind electric corp. decision to cut West Bank power
  8. ^ Israel cuts power to West Bank cities for second time
  9. ^ Power cut again in Palestinian cities despite 'collective punishment' accusations
  10. ^ Israel Electric to resume West Bank power disruptions
  11. ^ Israeli electric company begins West Bank power cuts over debt
  12. ^ Cutting Palestinians' electricity: It isn't just business, it's personal

External links

  • Investor Relations Site
  • Official Site
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