Israel Electric CEO Says Power-Market Reform Has Failed to Lower Costs

Israel Electric chief executive Meir Spiegler says the reform of Israel’s electricity market has concentrated generation among seven private producers without delivering the promised savings for consumers. In an interview published Friday, he called for the state-owned company to retain a role in power generation and criticized restrictions imposed by the Treasury and Electricity Authority. Spiegler acknowledged delays and budget overruns in the company’s power-station conversion projects. He said Israel Electric supports competition between electricity suppliers and the rollout of smart meters, but regulatory limits prevent it from offering comparable household discounts.