Israel Electric Corporation
Israel Electric Corporation is the only vertically integrated public organisation in Israel and produces, transmits and distributes nearly all of the country’s energy supply. The state controls 99.85% of the company and it is one of the biggest industrial groups in Israel. As at December 31, 2010, the company reported total revenues of US$ 5.5 bln from the sale of 52,037 GWh, with assets worth US$ 22.3 bln. IEC owns and operates 17 power stations, including 5 wind farms, with a total installed capacity of 12,769 MW. In order to meet future electricity demand, the company plans to add 3 more combined cycle units with an output capacity of 1,112 MW by the end of 2012, while from May 2011 the unit at Tsafit has been operating using only natural gas supplies.