August: Sharp Rise in Electricity Prices in Israel
The cost of electricity in Israel will increase by 9.6% in August, the Public Utilities Authority (Electricity) announced. The rise will be subject to a hearing. Israel’s electricity company initially wanted to increase electricity costs in June because of the steep rise in coal prices in world markets. However, the tariff increase was temporarily placed on hold.
This is the second electricity price increase in 2022 after prices shot up 5.7% in January. The increase was 2.2% lower than initially planned following Finance Minister Avigdor Liberman’s intervention, who canceled the excise tax on coal.
The electricity price is usually revised yearly. Still, since the last hike in January, the cost of coal, which produces 23% of Israel’s electricity, has nearly doubled from $210 per ton to $400 per ton.
The hike in electricity prices will hurt the struggling class more than anyone else – especially in August when the weather in Israel reaches peak temperatures. The country’s sweltering heat compels households throughout the Jewish state to keep their air conditioners on for long periods of time.
For struggling families, the price hike will likely come at the expense of other basic necessities such as food.
Fortunately, one organization is there to help. Colel Chabad provides gift cards to families throughout Israel suffering from food insecurity. The charitable organization delivers food to their doorstep for those unable to leave their homes.
Please consider donating to this holy organization to help Colel Chabad protect those families from food insecurity.
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