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Electricity Prices go down!

Electricity GuysIt’s time for a celebration when prices go down in Israel! So let’s party, because the Electric Authority has voted unanimously to lower its rates as of Feb. 15, 2010 to the tune of almost 10% to residential customers.

The new 41.32 agorot price per kilowatt hour is a 9.6% reduction from the previous price of 43.59 agorot. Commercial and public institutions will see an even higher drop of 16.3%.

The change was meant to happen back in April, 2009 but was postponed. There was a fight this time too, but the Manufacturers Association, the Federation of Israeli Chambers of Commerce and the Israel Consumer Council pushed for the cut. It’s intended to reflect the real cost of production (which is a requirement).

But just because the rates are dropping, please don’t run to use more! Using the same amount of electricity could afford you a 9.6% reduction in your bill without lifting a finger, the best possible savings!

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Posted in Budgeting, Saving Money. Tagged with , , .

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