IEC links Israel Corp. private power station to grid

Israel Corporation (TASE: ILCO) private power station OPC Rotem Ltd. has been linked to the national grid by Israel Electric Corporation (IEC) (TASE: ELEC.B22) but is not yet ready for operations, the IEC claims. In recent days there have been media reports that the IEC is preventing the private plant from being linked to the grid due to instructions from its workers committee, even though the utility had already paid tens of millions of shekels in fines due to being three months late in linking up the private plant. Reports said that IEC preferred to pay the fine, which it would get back from electricity consumers, rather than connect up the station of the private rival.

However, the IEC announced today that it had finished linking up the vital high tension cable between the OPC plant at Mishor Rotem in the Negev and IEC's substation in Dimona. IEC's announcement added, "Despite the connection to the station, OPC is still not ready for the flow of electricity from the national grid."

Published by Globes [online], Israel business news - www.globes-online.com - on February 17, 2013

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