Tel Aviv [Israel], July 10 (ANI/TPS): Israel's Electricity Authority is increasing competition in energy supply, thereby lowering costs to consumers. More than 250,000 households are already benefiting from the reform in the electricity sector and the possibility of switching to a private supplier and receiving discounts on their electricity bill.
Now the Electricity Authority is expanding competition by proposing a decision that will allow private suppliers to also buy from conventional power plants (which run on gas). The decision will increase the supply of electricity to suppliers, and will allow for higher discounts to be given to more households as early as early 2026.
After initially allowing photovoltaic installations and high-voltage storage facilities with an aggregate capacity of at least 2,000 megawatts to sell electricity to consumers, the Authority is now publishing a new regulation to promote and deepen competition in the supply sector.
As part of the regulation, in the next two to three years, conventional power plants with an aggregate capacity of 2,000-3,000 megawatts will also be able to sell electricity to private suppliers, thereby significantly increasing the number of consumers who will benefit from cheaper electricity.
In order to participate in the new regulation, conventional producers will be invited to participate in competitive tenders published by the Authority, in which producers will compete for the price they are willing to pay for the right to sell the supply to private suppliers. In each tender, the highest bids will win, up to the quantity defined in the tender, and subject to the price offered not being less than a minimum price set by the Authority. (ANI/TPS)
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