While it is not been finalized it is probable that electric rates in Israel will increase in about six weeks, around Pesach time. The price of a kilowatt of electricity will increase from 59.47 agorot to 66 agorot. If approved, electricity will have increased by 38% since August 2011. Ynet Money reports this represents an additional 1,400 NIS for electricity for the average family over the past 18 months.
The latest raise appears related to the cessation in the flow of gas from Egypt, compelling the utility to revert back to more expensive and less environmentally friendly methods of generating electricity. Israel Electric Company (IEC) officials insist they must have a 40% price increase to remain afloat.
State officials fear such a drastic increase would be too much for too many families, and therefore, the increase will be incremental. The first increase came in April 2012 (9%), followed by an additional 4.4% in April 2013 and a third increase of 4% in 2014.
(YWN – Israel Desk, Jerusalem)
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and inflation rose 38% since August 2011?
and salaries rose 38% since August 2011?