The debt of NIS 920 million was transferred to the electricity company from the East Jerusalem Electric Company

NIS 920 million was transferred to the electricity company from the East Jerusalem Electric Company (IEC). As a result of the transfer, the electricity company will discontinue its daily electricity supply cuts to its customers in the Palestinian Territories, which it has been cutting on a daily basis for a number of weeks. On the eve of the transfer to NIS 1.7 billion, according to the electric company version.
The power company announced on Wednesday that after weeks of reducing the electricity supply to the Palestinian Authority due to debt, and following intense discussions between the parties, the HMI transferred NIS 740 million to the electricity company, as part of its accumulated debt consumption in the Palestinian territories since 2016 This amount is added to a total of about NIS 180 million.
Electricity chairman Yiftah Ron-Tal said that "this is a significant phase in the reduction of the debt obligations of the IEC. The management of the electricity company acted with determination and responsibility for the collection of debts, and also promotes a process that integrates new substations and upgrading the quality of supply." In an interview with Globes, Ron-Tal said that the state should take on the debt itself if it does not allow the electric company to operate its hands free of debt collection.
The Electric Company also stated that the company will continue to negotiate with the USSR and the Palestinian Authority to settle the payment of the balance of their debts, and will act to collect any such debt by any means available to it under law.
This process of paying off most of the debt accumulated since 2016 is a breakthrough in contacts between the parties and provides a basis for a comprehensive solution to which the parties aim to reach.