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Electricity rates set to rise for second time in 2022

The selling price of coal, which generates 23% of Israel’s electricity, has pretty much doubled from $210 per ton to $380 per ton this 12 months.

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Israel’s General public Utilities Authority (Electrical power) will meet up with upcoming week to go over a hike in electric power tariffs thanks to the substantial cost raise in coal. The Community Utilities Authority wants a price tag hike in July, irrespective of the political pressures not to elevate charges.

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Electric power price ranges are commonly elevated as soon as a calendar year and in January the electrical energy tariff for household consumption was greater 5.7%. But due to the fact then the selling price of coal, which is continue to utilised to generate 23% of Israel’s energy, has virtually doubled from $210 for every ton to $380 per ton. The circumstance has been partly eased by the Ministry of Finance canceling excise tax on coal of NIS 105 for every ton, which will keep on being in result until eventually March 2023. Despite this a cost hike is nevertheless needed to offset the rise in coal selling prices and resources in the energy market believe that the hike could be as large as 15%.

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Printed by Globes, Israel company 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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