About 10 days ago, the electricity reform was launched. The biggest reform in the Israeli economy since the cellular reform. According to the reform, every consumer in Israel can choose from which supplier he purchases the electricity and enjoy a discount of 5%-20% of the electricity tariff. The move is expected to save each household hundreds and even thousands of NIS per year depending on the offers of the suppliers, the nature of use and the hours of electricity consumption. The Nega company, which led the reform together with the Ministry of Energy and is responsible for managing the electricity sector in Israel, today reveals the data of the transitions between the companies.
According to the data, in just 10 days since the reform started, 31,373 households have already joined the reform and switched from the electricity company to a private electricity supplier. 17,527 of them have a basic meter, and 13,846 have a smart meter. This is a 50% increase in the number of households that switched to a private provider compared to the number of households that switched during the last 3 years (from September 21 to the end of June 24) which was approximately 59,000 smart meter owners. Benga and the Ministry of Energy and Infrastructure have set a goal of 100,000 households that will switch from the electricity company to private companies by the end of the year.
Minister of Energy and Infrastructure Eli Cohen: "This is the biggest reform in the economy since the cellular reform. We are breaking the monopoly of the Electric Company, opening the electricity sector to competition and returning at least NIS 2 billion to the citizens. I congratulate the over 30,000 customers who took the right step, joined the electricity reform and decided to save up to thousands of NIS a year. I also switched to a private provider, and I call on all citizens of Israel: compare, switch and save".
Shaul Goldstein, CEO of Nega: "The opening of the competition market in the supply of electricity to everyone by Minister Eli Cohen is great news that can save hundreds of NIS a year and even more for a family immediately.
We at Banga, worked night and day to meet the very short times that the minister set both for building a sophisticated technology that would know how to route the bills of the basic (analog) meters to the consumers who will go to the private suppliers, and the transfer process to those suppliers. I hope that by the end of 2028 the electric company will indeed finish installing the smart meters in all the family homes and then the savings for every home in Israel will be greater and at the same time we will cause a change in the public's electricity consumption behavior."