Over 500,000 Customers Leave Israel Electric Corporation for Private Suppliers
Translated & summarized from Al-Shams by baba
Over 500,000 customers have switched from Israel Electric Corporation to private suppliers since market reforms began, representing more than two million people. In September, 23,286 customers applied to switch, with savings ranging from 7% to 20%. The transition period has been shortened to seven days, and new capacity has been added to the market, though the IEC still manages the grid.
The story in 5 lines · by baba
- Over 500,000 customers have switched from Israel Electric Corporation to private suppliers.
- These customers represent more than two million people in total.
- In September, 23,286 customers applied to switch to private electricity providers.
- Customers switching to private suppliers can receive discounts of 7% to 20%.
- The time required to switch electricity providers has been reduced to seven days.
More than 500,000 customers, representing over two million people, have switched from the state-owned Israel Electric Corporation (IEC) to private electricity suppliers since the market reform began. In September alone, 23,286 customers applied to switch to private providers, a slight decrease from approximately 26,000 in August, according to data from the Ministry of Energy and Infrastructure and the Electricity Authority (Noga).
The private market allows households and businesses to secure discounts on their electricity consumption costs, with savings ranging from 7% to 20% depending on the supplier and chosen plan. The transition process has been streamlined this year, with the time required to switch providers reduced from 14 days to seven. Concurrently, about 1,000 megawatts of capacity have been added to the competitive electricity market.
Under the current system, private suppliers offer competitive rates, while the IEC retains responsibility for the electricity grid, infrastructure, and fault handling services. This reform aims to increase competition and provide consumers with more choices and potential cost savings.
