The Head of the Energy Authority Signs a Financial Settlement Agreement and Restructuring of the Southern Electricity Company on Behalf of the Government

SadaNews - Eng. Ayman Ismail, the head of the Energy Authority, representing the Palestinian government, today signed a financial settlement agreement in his office with the Southern Electricity Company and the major municipalities that established the company. This agreement aims to restructure the company within cost centers to serve the public interest and enhance the financial sustainability of the company, in line with the Palestinian government's direction to advance the energy sector and rectify the situation of the Southern Electricity Company to ensure the sustainability of electricity services and achieve fairness in the distribution of costs among the municipalities that established the company.

Eng. Ismail confirmed that this agreement comes as a culmination of the Palestinian government's efforts to develop the energy sector's infrastructure. The signing of this agreement with the Southern Electricity Company represents a qualitative leap that contributes to building a sustainable electricity system. It not only settles the debt but also rebuilds the institutional structure by adopting clear and responsible cost centers for each area, which enhances transparency and operational efficiency.

He added that this step is part of the government's reform plan in the energy sector to improve the financial and operational performance of distribution companies.