September 30, 2014 4:45 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. It operates through threes segments: Power Generation, Power Transmission and Transformation, and Power Distribution. The company serves households, industrial, public and commercial buildings, and bulk water pumping and agriculture customers. As of December 31, 2013, it owned and operated 17 generation facilities, including 5 steam-powered power stations with total installed generation capacity of 13,483 megawatts; and had 63 generation units comprising 18 steam generation units, 13 gas turbine integrated cycle units, 16 jet gas turbine units, and 15 industrial gas turbine u...

1 Netiv Ha'or street

PO Box 10

Haifa,  3100001


Founded in 1923

9,818 Employees


972 4 818 4700


972 4 818 4710

Key Executives for Israel Electric Corporation Limited

Chief Executive Officer and President
Age: 53
Chief Financial Officer and Senior Vice President of Finance & Economics
Age: 49
Deputy Chief Executive Officer and Senior Vice President of Planning
Age: 64
Deputy Chief Executive Officer and Senior Vice President of Customer & Business Development Division
Age: 59
General Counsel
Age: 64
Compensation as of Fiscal Year 2014.

Israel Electric Corporation Limited Key Developments

Israel Electric Corporation Limited Announces the Cessation of Eli Glickman as CEO

On September 22, 2014, The Israel Electric Corporation Ltd. announced during a meeting of the Board of Directors, the company's CEO, Mr. Eli Glickman, has announced that he intends to resign from office as the company's CEO in a few months, in order to enable the election of a substitute in an orderly manner.

Israel Electric Corporation Limited, Board Meeting, Sep 22, 2014

Israel Electric Corporation Limited, Board Meeting, Sep 22, 2014. Agenda: To approve the cessation of Mr. Eli Glickman, CEO.

Israel Electric Corporation Reports Earnings Results for the First Half of 2014

Israel Electric Corporation reported earnings results for the first half of 2014. For the period, the company finished the first half of 2014 with a ILS 1.1 billion loss, almost double its ILS 616 million loss in the first half of 2013. IEC's loss grew despite 2% growth in its revenue, which totaled ILS 12.5 billion. In addition, the company benefited from a 40% drop to ILS 3.6 billion in fuel costs during this period resulting from the switch to the use of natural gas from the Tamar reservoir.

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