The only external director couldn't make a meeting.
Sources inform ''Globes'' that the decision by the Public Utilities Authority (Electricity) on a sharp 10-15% cut in electricity tariffs has been postponed until Monday. The Public Utilities Authority board was scheduled to meet today to decide on the tariffs update for the various sectors.
However, shortly before the meeting was due to begin, Public Utilities Authority Tariffs Commission chairman Richard Ben-Haim said that he could not make the meeting for "personal reasons". He is the only external director at the Public Utilities Authority, and his participation is essential for board discussions. The Public Utilities Authority therefore postponed the discussion on the electricity tariffs.
There has been intense lobbying both for an against a rate reduction. As "Globes" was the first to report, Minister of National Infrastructures Uzi Landau is a major opponent of a rate reduction, because he wants to use the income from tariffs to set up an energy conservation fund. The Israel Electric Corporation (IEC) (TASE: ELEC.B22) also opposes a rates reduction, because it want the tariff proceeds to set up a fund for projects.
Published by Globes [online], Israel business news - www.globes-online.com - on January 27, 2010
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