Israel energy report

Update: February 2025
Format: 3 files (PDF report, 2 Excel files)

Pages: 33 (Report only)
Delivery: Immediate by e-mail

Table of Contents

GENERAL OVERVIEW
INSTITUTIONS AND ENERGY POLICY
ENERGY COMPANIES
ENERGY SUPPLY
ENERGY PRICES
ENERGY CONSUMPTION
ISSUES AND PROSPECTS
DATA TABLES
ABBREVIATIONS
GLOSSARY

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Overview

This analysis includes a comprehensive Israel energy market report and updated datasets. It is derived from the most recent key economic indicators, supply and demand factors, oil and gas pricing trends and major energy issues and developments surrounding the energy industry. The report provides a complete picture of the country situation, dynamics, current issues and future prospects. With 2023 market data and continuous follow-up of markets news, this report brings clear and concise insights with which to tackle national energy challenges and opportunities. Browse the tabs below for a detailed table of contents, the list of graphs and tables, and details on the data files.

Highlights

Israel aims to achieve 40% of renewables in the country's power mix by 2030 and to eliminate coal from power generation by 2025.
IEC dominates power generation (60%) and is the sole company for transmission and distribution.
Energean discovered the Katlan gas field in 2023, estimated to hold 68 bcm of natural gas.
Gas production has nearly tripled since 2019, reaching 25 bcm in 2023.
Thermal accounts for 90% of the country's power mix, with gas dominating by far (72%).
Gasoline and diesel prices peaked in 2022, and both fell by 9% in 2023.
Electricity prices have been increasing since 2019.
Total energy consumption has remained quite stable since 2021.
Israel is ramping up efforts in the solar sector, with 1.3 GW of projects under development.
It awarded 12 licenses to six companies in 2023 as part of the 4^th Offshore Bid Round.

40%

of renewables in the power mix by 2030

27%

reduction in GHG emissions by 2030

91%

of the power mix is based on fossil fuels

Institutions & Energy Policy
The Ministry of Energy and Infrastructure supervises the energy sector. It does so through the Natural Gas and Oil Department that regulates the exploitation of oil and gas resources, through the Gas Authority and the Fuel and Gas Administration that regulate the transportation and distribution of gas and oil to the markets, and through the "Electricity Authority" for electricity.
Energy Companies
Electricity:
IEC, Israel Electric Corporation is the national electricity utility company (99.85% state-owned).
Energy Supply
Oil:
Oil production is limited (187 kt). Crude oil imports were relatively stable (around 11 Mt) between 2010 and 2022 (10.9 Mt).
The country has 2 refineries: Haifa (196 kb/d) and Ashdod (100 kb/d). Oil Refineries commissioned a new hydrocracking unit of 25 kb/d at its Haifa refinery in 2013 to produce cooking gas, naphtha, kerosene, and high-quality diesel.
Energy Prices
Electricity:
The price of electricity dropped significantly between 2014 and 2016 (by about 11%/year for households and 15%/year for industry) as a result of higher production from natural gas. Prices for households have increased by 4%/year since 2018, reaching US$17.1c/kWh in 2023; for industry, the progression has been more rapid (7%/year), reaching US$12.3c/kWh in 2023.
Energy Consumption
Israel's consumption per capita is 2.5 toe (i.e., 20% less than the Middle East average), including around 6 500 kWh of electricity (65% above the regional average) (2023).
Primary energy consumption has remained largely stable since 2021 (around 24 Mtoe), after rising from 2019 to 2021 (2.2%/year). Between 2015 and 2019, consumption was quite stable at around 22 Mtoe.
Issues & Prospects
Electricity:
According to the Electricity Authority, electricity generation is expected to reach 97 TWh in 2030 (+2.8%/year over 2017-2030). To meet rising demand, the installed capacity should reach 23.4 GW in 2030 (+3.4 GW compared to 2020), mainly from solar (+400 MW/year on average between 2020 and 2030) and gas.

GRAPH 1: CO₂-energy emissions (MtCO₂)
GRAPH 2: Installed electric capacity by source (2023, %)
GRAPH 3: Gross power production by source (TWh)
GRAPH 4: Power generation by source (2023, %)
GRAPH 5: Gasoline & diesel prices (US$/l)
GRAPH 6: Electricity prices for industry and households (US$c/kWh)
GRAPH 7: Consumption trends by energy source (Mtoe)
GRAPH 8: Total consumption market share by energy (2023 %)
GRAPH 9: Final consumption market share by sector (2023, %)

Economic Indicators: Annual historical data including population, GDP growth, imports and exports, inflation rate, energy security and efficiency indicators, CO₂ emissions.
Supply Indicators: Historical data including oil and gas reserves, electric and refining capacity, energy production, power production and external trade. All are detailed by energy source.
Demand Indicators: Historical data including consumption per inhabitant, consumption trends, total consumption by energy source, final consumption by energy source and sector, and electricity consumption by sector.
Energy Balances: Single table displaying the overall energy industry balance per annum, also graphically displayed by energy sub-segment.
Infrastructure Projects: Covers power plant projects by energy, technology, status and operator.

The Israel energy market data since 1990 and up to 2023 is included in the Excel file accompanying the Israel country report.
It showcases the historical evolution, allowing users to easily work with the data.

Key Data included in the excelsheet:

Economic indicators: Annual historical economic indicators, energy security, energy efficiency and CO₂ emissions.
Supply indicators: Annual historical reserves, capacity, production and external trade (imports(+) exports(-) balance).
Demand indicators: Annual historical consumption per capita, consumption trends, total consumption, final consumption (per energy and per sector) and electricity consumption total and per sector.
Energy Balance: total and per energy.
Israel Energy Prices: In addition to the analysis provided on the report we also provided a data set which includes historical details on the Israel energy prices for the follow items: price of premium gasoline (taxes incl.), price of diesel (taxes incl.), price of electricity in industry (taxes incl.), price of electricity for households (taxes incl.), price of natural gas in industry (taxes incl.), prices of natural gas for households (taxes incl.), spot price of Brent and CO₂ emissions (from fuel combustion).