| Miscellaneous | |
| * Asterisks denote mandatory information | |
| Name of Announcer * | THE ISRAEL ELECTRIC CORPORATION LTD. |
| Company Registration No. | 520000472 |
| Announcement submitted on behalf of | THE ISRAEL ELECTRIC CORPORATION LIMITED - BONDS |
| Announcement is submitted with respect to * | THE ISRAEL ELECTRIC CORPORATION LIMITED - BONDS |
| Announcement is submitted by * | Shai Elmalech |
| Designation * | Adv. |
| Date & Time of Broacast | 18-Apr-2012 21:52:40 |
| Announcement No. | 00168 |
| Price Sensitivity | No |
| >> Announcement Details | |
| The details of the announcement start here ... |
| Announcement Title * | Immediate report |
| Description | The Israel Electric Corporation Ltd. ("The Company"), hereby announces, that results of tests, as well as of an exercise conducted by the Company in recent days to contend with expected demands for electricity in the coming summer, indicate that the available generation capacity of the Company in the coming summer is expected to exceed the peak demand for electricity by one percent (1%) only and that in the event where gas supply will stop completely and/or in the event of a failure in one of the Company's generation units and/or in the event of extreme weather conditions, which will increase the demand for electricity over the expected peak demands, the available generation capacity of the Company may even fall short of the peak demand for electricity; and in such an event, the Company will not be able to supply all the demand for electricity during peak hours and will have to initiate power supply cuts to consumers, in extreme cases even for hours. The Company, jointly with teams of the Ministry of Energy and Water, is making the preparations required to contend with the expected sever crisis in the electricity sector in the coming summer. The Company also addressed the Ministry of Energy and Water, requesting that the Minister of Energy and Water will exercise his legal authority and will announce, with the approval of the Government, an "emergency" in the electricity sector and publish instructions applied to the operation of the electricity sector in an "emergency" (including granting permission to cut electricity supply to consumers for certain periods of time according to predefined priorities), all in a way that will enable the Company to act in an "emergency" without breaching the instructions of the law, the licenses by force of which it acts and its contractual obligations to financing entities. The Company estimates that its expected inability to supply the full demand for electricity in the coming summer, is not expected to have a direct material impact on its financial or cash flow condition. The aforesaid on the estimates of the Company on its ability to supply the demand for electricity in the coming summer and the impact of such a situation on its financial or cash flow condition is a "forward looking Statement", as defined under the Securities Law - 1968, based inter alia on forecasts of demand for electricity in the coming summer. |
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