"Consumers should not have to pay for the mistakes of the IEC."
"We've had experience in the past with Israel Electric Corporation's (IEC) promises to streamline. Only when the public sees with its own eyes streamlining at IEC, will we lower rates," said Public Utilities Chairman (Electricity) chairman Amnon Shapira today at a press conference. This was his first comments about IEC's financial situation and the negotiations for restructuring formulated by IEC CEO Amos Lasker.
Shapira said that IEC's financial situation was, among other reasons, the result of not meeting the development plan for years, delays in the use of natural gas, and a lack of streamlining. He said that the rules of game vis-a-vis IEC had to change. "Consumers should not have to pay for the mistakes of the IEC," he said.
Published by Globes [online], Israel business news - www.globes-online.com - on June 5, 2008
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