The Israel Electric Corporation (“IEC”) is a public and government-owned company, generating and supplying electricity to all sectors in the economy. Established in 1923, IEC is a dominant player in the Israeli electricity sector and is an essential service provider of electricity in Israel, and the sole vertically integrated provider in the electricity chain. IEC activities include the generation, transmission, distribution, supply, and sale of electricity. IEC supplies reliable and high-quality electricity, compiles with leading standards, maintaining economic, commercial, and environmental principles.