Israel Electric Corporation

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Israel Electric Corporation
Type Government-owned corporation
Industry Electric utilities
Founded 1921
Founders Pinchas Rutenberg
Headquarters Haifa, Israel
Area served Israel
Key people Yiftach ron Tal (Acting Chairman since 2011), Eli Glickman (CEO )
Products Electricity generation, transmission and distribution
Revenue  17.6 billion[1]
Operating income  332 million[1]
Net income  253 million[1]
Employees 9,782 permanent employees
2,894 temporary employees
Website Israel Electric Company
IEC headquarters in Haifa, Israel
The Israel Electric Company Ltd in the early 1920s

Israel Electric Corporation (Hebrew: חברת החשמל לישראל‎, abbreviation: IEC) is the main supplier of electrical power in Israel. IEC builds, maintains and operates power generation stations, sub-stations, as well as the transmission and distribution networks.

The company is the sole integrated electric utility in the State of Israel and generates, transmits and distributes substantially all the electricity used in the State of Israel. The State of Israel owns approximately 99.85% of the Company.

History[edit]

The Jaffa Electric Company was founded in 1923 by Pinhas Rutenberg, and was later absorbed into a newly created Palestine Electric Company.[2]

The Company was incorporated in Mandatory Palestine with its main object to produce, supply, distribute and sell electricity to the consumers. Israel Electric Corp. was first registered under the name "The Palestine Electricity, Corporation Limited", which was changed in 1961 to its present name "The Israel Electric Corporation Limited".

Today[edit]

The IEC is one of the largest industrial companies in Israel, owning and operating an extensive nationwide power distribution network fed by 17 power station sites (including 5 major thermal power stations) with an aggregate installed generating capacity of 10,899 MW. Most of the base load electricity is generated using coal, though by the end of 2010, the company expects the majority (55%) of total installed generation capacity to be in the form of natural gas plants. In 2009, the company sold 48,947 GWh, of electricity. To meet projected future electricity demand, IEC capital investment program provides for the addition of 2,578 MW of installed capacity by the end of 2011. In addition, the government of Israel is seeking private companies to generate an additional several thousand megawatts by the middle of the 2010s which will then be distributed by the IEC.

The Orot Rabin power station owned by the IEC has Israel's second tallest structure, a chimney, standing at 300m, while Tel Aviv's distinctive Reading Power Station was one of its earliest.

The current CEO is Eli Glickman.

Generation capacity[edit]

Plant type Fuel Capacity [MW]
Steam powered power plants coal, fuel oil, natural gas 6,612
Aeroderivative jet turbines natural gas, diesel 504
Industrial gas turbines natural gas 1,700
Combined cycle natural gas 2,848
Total 11,664.[3]

See also[edit]

References[edit]

  1. ^ a b c 84th ANNUAL REPORT Year 2006
  2. ^ Shamir, Ronen (2013). Current Flow: The Electrification of Palestine. Stanford: Stanford University Press.
  3. ^ Installed Capacity. IEC (2009)

External links[edit]