| 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 * | David Yahav |
| Designation * | Legal Advisor |
| Date & Time of Broacast | 02-Jan-2014 03:52:25 |
| Announcement No. | 00001 |
| Price Sensitivity | No |
| >> Announcement Details | |
| The details of the announcement start here ... |
| Announcement Title * | Immediate Report: Letter from the Israeli Antitrust Authority |
| Description | The Israel Electric Corporation Ltd. ("The Company"), announces hereby that it received today, 1 January, 2014, a letter from the Israeli Antitrust Authority, presenting the headline, "A Hearing Prior to Issuing Instructions to Regulate Actions of a Monopoly According to Section 30 to the law". The letter notes that the General Director of Restrictive Trade Practices ("The General Director") considers exercising the authority granted to him by the Restrictive Trade Practices Law, 5748-1988, and issue an order to the Company, according to which the Company will not increase, directly or indirectly, its electricity generation capacity in excess of 13,307 MW, as long as the electricity generation capacity of the Company is 50% higher than the total generation capacity of the economy. The letter also noted that this instruction shall not prevent the Company from performing efficiency works in the power stations it owns, and insofar as the said efficiency works can increase the electricity generation capacity over the aforementioned maximum generation capacity, the Company must receive the advance approval of the General Director for it. The Company has an opportunity to present its position to the General Director before he makes his decision on this subject. The Company is studying the letter and its implications, considers its next steps and shall report again as required by the law. Israel Electric Corporation Ltd. By: David Yahav, Legal Advisor and Company Secretary Eli Glickman, CEO |
