After forced blackouts in Jenin and Shechem over unpaid electric bills, 300 million shekels of PA tax money to be transferred to the Israel Electric Company.
By Avi Haim & Tova Dvorin
The Israel Electric Company (IEC) and the Palestinian Authority (PA) reached a temporary settlement Thursday, after the IEC introduced rolling blackouts in protest to outstanding debts.
Electricity on the way to the Palestinians – Photo: IsraelandStuff/PP
Under the agreement, the PA will transfer some 300 million shekel (about $75,800,000) in tax money to the IEC in exchange for a halt on the blackouts, which the IEC introduced earlier this week after multiple warnings over the debt.
Israeli New Shekel Exchange Rate