HOT Group signs new electricity supply agreement

In anticipation of launching the service to all customers soon and expecting an increase in demand for private electricity suppliers joining the reform, HOT Energy, the electricity supply arm of HOT Group, has signed a power supply agreement with Dalia Energies for a period of up to 10 years. This agreement comes as the company prepares to expand its private electricity supply service to all HOT customers and to introduce combined communication and electricity packages offered to the group's customers.

As part of the agreement, HOT Energy will purchase electricity from Dorad Energy and supply it to its customers. The company will offer customers various options and benefits in combined communication service plans alongside significant savings on their electricity bills.

Following the opening of the electricity market in Israel to competition, HOT Group announced its entry into the field of electricity supply for households and businesses. Over the past year, it completed a successful pilot. The company is now preparing for increased demand and the expansion of the service to all its customers.

Eli Asulin, CEO of Dorad Energy, stated, "This important agreement reflects the opening of the electricity market to competition, enabling us to expand our operations among domestic consumers and reduce electricity rates for Israeli citizens. Alongside this agreement, in light of demand forecasts and the need to ensure a continuous electricity supply, we are working to expand the power station and increase electricity production capacity. This will provide a solution for clean electricity production, address the expected electricity shortage in the next decade, and enable technological advancements, the entry of electric trains and vehicles into the market, and the construction of large data centers."

Evgeny Cherkassky, CFO of HOT Group, added, "The opening of the electricity market to competition and the announcement by the Ministry of Energy and the Electricity Authority on the expected removal of the smart meter limitation for joining are expected to generate peak electricity demand for HOT Energy. HOT is preparing with significant electricity supply to provide the discount benefit to all its customers. Dorad is one of the pioneers of private electricity companies in Israel, and the agreement we signed today will allow us to offer HOT customers significant savings on their electricity bills."

HOT Energy customers will be able to enjoy electricity services under one roof with HOT's extensive range of services. HOT Energy is led by Nir Edelman, head of the group's innovation and business development arm.

Dorad Power Station, the pioneer of private electricity production established in 2014, is the first private power station and one of the largest power stations in Israel.