The peak electricity demands of summer are continuing, even as Israel Electric Corporation (IEC) (TASE: ELEC.B22) has taken some production units out of service for regular maintenance as part of its work plan for autumn. This work has reduced IEC's reserve capacity.
This morning, the Israel Meteorological Service forecast 42.5 degrees Celsius (108 degree Fahrenheit) in Beer Sheva, 38 degrees (100 degree Fahrenheit) in Jerusalem, and 36 degrees in Tel Aviv and Haifa.
Although the heat wave will increase electricity demand for air conditioning, IEC promises that it will meet today's expected peak demand, provided that are no unexpected breakdowns in production units. IEC's updated demand forecast predicts demand of 10,200 megawatts, while its production capacity is only 9,800 megawatts with a 200-megawatt reserve.
Private power producers, small generators, and large factories with moving peak arrangements with IEC will supply the balance of electricity.
Published by Globes [online], Israel business news - www.globes-online.com - on October 20, 2010
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