Israel Electric Corporation Reaches Temporary Settlement With Palestinian Authority

Jerusalem, 6 April, 2016 (TPS) -- The Israel Electric Corporation (IEC) reached a temporary settlement with the Palestinian Authority (PA) for unpaid debts in which the PA will transfer an immediate payment of NIS 20 million in turn for continued power. The IEC had reduced its power supply in the past week, to the PA controlled cities of Bethlehem and Jericho in light of the unpaid debts.

The IEC and PA have also agreed to negotiate the unpaid debt, however, the IEC is reportedly threatening to revert to reducing its power supply if no long-term settlement is reached.