Israel’s state-owned electric company said Wednesday it was ending power cuts to the West Bank after the Palestinian Authority paid over half of its outstanding debt.
In September, the Israel Electric Corporation began cutting power in parts of the West Bank over the NIS 1.7 billion ($500 million) debt owed by the main Palestinian power distributor for the West Bank.
On Wednesday, the IEC said it had received NIS 920 million ($267 million) from the Palestinians.
“The electric company will cease the power cuts over the debts,” a statement from the IEC said, adding it would hold further negotiations with the power distributor and the Palestinian Authority on the repayment of the remainder of the outstanding funds.
The IEC called the payment a “breakthrough” and “the basis to a comprehensive solution the sides strive to reach.”
There was no immediate confirmation from the Palestinian side.
IEC chairman Yiftah Ron-Tal called the payment “a significant step in reducing the debts,” adding his company was working to “upgrade the quality of supply.”
The company had imposed power cuts of several hours a day in parts of Ramallah and other West Bank cities in a bid to recover the money owed.