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July 05, 2015 11:44 PM ET

Electric Utilities

Company Overview of Israel Electric Corporation Limited

Company Overview

The Israel Electric Corporation Limited generates, transmits, distributes, sells, and supplies electricity in Israel. As of December 31, 2014, the company owned and operated 17 sites of power stations, including 5 steam-powered power stations with total installed generation capacity of approximately 13,617 megawatts; and had 63 generation units comprising 18 steam generation units, 14 combined cycle gas turbine units, 16 jet gas turbine units, and 15 industrial gas turbine units. It served 2,633 thousand customers, including households; industrial, public, and commercial building customers; and bulk water pumping and agriculture customers. The company was formerly known as The Palestine Elec...

1 Netiv Ha'or Street

PO Box 10

Haifa,  3100001


Founded in 1923

9,721 Employees


972 4 818 4700


972 4 818 4710

Key Executives for Israel Electric Corporation Limited

Chief Executive Officer and President
Age: 56
Acting Senior Vice President of Finance and Economics.
Age: 47
Senior Vice President of Corporate Sustainabilty and Risk Management
Age: 67
Senior Vice President and General Counsel
Age: 47
Senior Vice President of Customer Relations
Age: 51
Compensation as of Fiscal Year 2015.

Israel Electric Corporation Limited Key Developments

Israel Electric Corporation Limited Appoints Amit Oberkovich as Senior Vice President of Human Resources

Israel Electric Corporation Limited announced the appointment of Amit Oberkovich as Senior Vice President of Human Resources Division, effective June 26, 2015. Most recently Amit was the Head of Human Resources Division.

Israel Electric Corporation Limited Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Israel Electric Corporation Limited announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported revenues of ILS 5,735 million against ILS 6,382 million a year ago. Profit from current operations was ILS 891 million against ILS 1,708 million a year ago. Profit before income taxes ILS 319 million against ILS 930 million a year ago. Profit after income tax ILS 240 million against ILS 682 million a year ago. Net cash provided by operating activities was ILS 1,904 million against ILS 2,358 million a year ago. Investment in fixed assets, net of consumers' participation in assets was ILS 756 million against ILS 821 million a year ago. Investment in intangible assets was ILS 34 million against ILS 49 million a year ago.

The Israel Electric Corporation Ltd. Announces Executive Changes

The Israel Electric Corporation Ltd. appointed Bloch Ofer as CEO, effective June 10, 2015. The company also announced the cessation of Balmas Yitzhak as CEO in practice, effective June 10, 2015. Mr. Balmas will remain Senior Vice President for Customer Relations.

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