Electricity tariff for private customers is expected to increase by about 10% this January

Posted on Nov 21, 2022 by Ifi Reporter

The electricity tariff for private customers is expected to increase by about 10% this January. This after the rate increased by 8.6% last August.

The final decision on the tariff increase is expected to be made after a hearing procedure that will begin this Wednesday with the gathering of the Electricity Plenary. The main reason for the increase in electricity rates is the spike in coal prices, which have risen by 140% since the beginning of the year, and is used to produce 26% of Israel's electricity.
The electricity tariff in Israel is determined by the Electricity Authority and approved by the Electricity Plenum, which includes representatives of the Electricity Authority, the Ministry of Energy and the Ministry of Finance. The rate is usually updated once a year in January. However, in years where there is a significant change in production costs, as happened last year, the price can also be updated during the year.
Although this is the second increase in a few months, the electricity tariff in Israel increased less than in other countries in the world, especially in Europe. In the UK, for example, the electricity tariff increased by 80% in four months.


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