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Home > Company Index > Utilities > Electric Utilities > Israel Electric Corporation Limited

Israel Electric Corporation Limited
 PROFILE
At least there's one thing Yasser Arafat and Ariel Sharon have in common: Israel Electric Corporation (IEC) generates, transmits, and distributes electricity to all of Israel and the Palestinian Authority. Founded in 1923 as the Palestine Electric Corporation, IEC became a government-controlled monopoly when the Jewish State was founded 50-plus years ago. Serving more than 2 million customers, the company has a generating capacity of more than 8,300 MW, powered by coal, fuel oil, and gas oil. Its investment programs are partly funded by international bonds. The Electricity Market Law of 1996 requires the company to privatize; production of up to 20% of the nation's electricity will go to private competitors by 2006.

 COMPETITION
E.ON AG (EON)
Electricité de France (dossier)
RWE Aktiengesellschaft (RWEOY)

 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 2,480.40
1-Yr. Sales Growth: 15.6%
Employees: 10,000
Revenue per employee: $248,040.00

 KEY PEOPLE
• Jacob Razon
    CEO
• Joseph Dvir
    CFO

 CONTACT INFO
2 Hagana Ave.
Haifa 35222, Israel
Phone: 972-4-8646121
Fax: 972-4-8646468
Online: Web Site

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