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Electricity Price Cut Expected After Israel Electric Corp. Sells Fiber Optic Stake
Israel Electric Corporation will pass on half of the proceeds from selling its stake in the IBC fiber optic project to consumers, potentially lowering electricity tariffs by 0.5% in January 2027.
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What happened
- 01Israel Electric Corp. will transfer 125 million shekels to consumers, lowering electricity tariffs by 0.5%.
- 02The tariff reduction is expected in January 2027, following the sale of IEC's IBC stake.
- 03IEC will receive approximately 250 million shekels for its 30% share in the IBC fiber optic project.
- 04The Electric Power Authority confirmed consumers are entitled to a share of profits from network usage.
- 05"Hevrat Hashmal" has not yet officially commented on the decision regarding the funds.
The company will receive about 250 million shekels for its 30% stake, with 125 million shekels designated for tariff reductions. The Electric Power Authority confirmed the tariff adjustment will occur in 2027. "Hevrat Hashmal" has not yet commented on the decision.
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