Israel Electric Corporation

Israel Electric Corporation

Infobox Company
company_name = Israel Electric Corporation
company_
company_slogan = "With you every moment" (he|איתך בכל רגע)
company_type = Government-owned corporation
foundation = 1921
location = Haifa, Israel
origins =
key_people = Moti Friedman (Chairman since March 2007), Moshe Bachar (CEO since August 9, 2007)
area_served = Israel
industry = Electric Utilities
products = Electricity generation, transmission and distribution
revenue = ₪ 17.6 billion [http://www.israel-electric.co.il/Static/WorkFolder/IRR/2006%20Financial%20ENG.pdf 84th ANNUAL REPORT Year 2006] ]
operating_income = ₪ 332 million
net_income = ₪ 253 million
num_employees = 9,782 permanent employees
2,894 temporary employees
homepage = [http://www.israel-electric.co.il Israel Electric Company]

Israel Electric Corporation ( _he. 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.

The Company was incorporated in mandatory Palestine on March 29, 1923, 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 the year 1961 to its present name "The Israel Electric Corporation Limited".

The IEC is one of the largest industrial companies in Israel, owning and operating 17 power stations sites (including 5 major thermal power stations) with an aggregate installed generating capacity of 10,899 MW. In 2006, the Company sold 46,175 GWh, of electricity. To meet projected future electricity demand, the Company's capital investment program provides for the addition of 2,578 MW of installed capacity by the end of 2011.

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

The current CEO is Uri Bin Nun.

Notes

External links

* [http://investor.i-ecnet.co.il investor.i.co.il]
* [http://www.iec.co.il/bin/en.jsp?enDispWhat=Zone&enZone=BriefDescrIRR&enDispWho=BriefDescrIRR&enPage=IRRWPage&enDisplay=view& Official Site]


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