Israel to raise electricity prices by 2.6% in February

Israel’s Public Utilities (Electricity) Authority announced yesterday that the price of electricity will rise 2.6 per cent in February, following a 2.7 per cent rise in consumer price indices in the preceding period.

The new rate is expected to go into effect on 1 February, subject to approval at a public hearing.

As a result of the change, the average electricity bill will increase by about 10 shekels ($2.75) per month.

The Public Utilities Authority said the price increase to consumers was due to the rise in the Consumer Price Index (CPI) over the past year, the rise in interest rates, the continued development of the electricity grid, enhancing reliability of electricity supply, switching to renewable energies and reducing air pollution.

Earlier on Sunday, the Energy Ministry announced that as of 1 January, gas prices will rise by 28 agorot (eight cents) per litre to 7.22 shekels ($2) per litre.

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