Mega - Ofer Vaknin - May 30, 2012
A Mega supermarket outlet. Photo by Ofer Vaknin
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Electric corp. fined for guesswork

The Israel Electric Corporation was fined NIS 9.2 million shekels in 2012 for guessing customers’ electricity readers, instead of sending a meter reader to calculate bills accurately. The Electricity Authority forbade the IEC from doing so last year, with a resulting drop in the number of bills based on guesswork - 8% of the total, down from 11% in 2011. During the first six months of 2013, only 4% of bills sent to consumers were based on guesses. According to a report published by the Electricity Authority yesterday, 1,100 complaints were filed against the utility in 2012, 31% of which were found to be justified. According to the report, some 84,500 customers had their power cut off in 2012. (Avi Bar-Eli)

Mega planning low-cost stores inside cities

Supermarket chain Mega plans to attempt to regain its lost market share by launching a line of reduced price supermarkets inside cities, apparently under the name You+, according to an internal company document. The company, part of the Dor Alon-Blue Square group, is planning to launch this format of supermarkets, which does not yet exist in Israel, as aprt of its strategic plan. The company plans to convert some 20 branches of Mega Ba'Ir, which charge relatively high prices, into You+ branches. The company's cheaper supermarkets outside cities, currently branded as Mega Bool, will likely be renamed You. It's not clear yet whether the prices at You+ will be equal to those at You. (Adi Dovrat-Meseritz)

Flug makes first move since being picked

Temporary Bank of Israel Governor Karnit Flug yesterday appointed Prof. Natan Zussman to the central bank’s monetary policy committee, her first decision since Sunday's announcement that she was Prime Minister Benjamin Netanyahu’s candidate to be the next permanent governor. Zussman, head of the central bank’s research department, will be replacing Barry Toaff, who is planning to leave the bank at the end of the month after 30 years. The monetary policy committee, chaired by Flug, is responsible for setting Israel’s interest rates. (Moti Bassok)

PM’s flight to rome likely costing NIS 250,000

El Al will be flying Prime Minister Benjamin Netanyahu and his entourage to Rome today, and taxpayers are likely to be paying a quarter of a million shekels for the flight. El Al won a tender to operate a special flight to Rome, even though there are regular scheduled flights plying the Tel Aviv-Rome route. Netanyahu will be spending only 24 hours in Italy. The specifications in the tender included two business class seats separated from the rest of the seats on the flight. Netanyahu is slated to meet with his Italian counterpart and U.S. Secretary of State John Kerry in Rome. (Zohar Blumenkrantz)