Israel has introduced a carbon tax, which will lead to an increase in the prices of gas and electricity.

The Knesset Finance Committee has approved a decree to introduce a carbon tax, which will impose a tax burden on electricity consumers. The 1% increase in electricity rates next year will be just the first step toward a planned 5% increase by the end of the decade. The plan is also to gradually increase the tax on cooking gas to encourage a transition to cleaner and safer energy sources.

One of the main intentions of introducing the carbon tax is to reduce carbon dioxide emissions in order to combat climate change. However, the decision is based not only on environmental motives, but also on the need to increase state budget revenues due to the growing budget deficit. The plan is to increase state revenues from NIS 224 million next year to NIS 2.5 billion by 2030.

The introduction of the new tax will affect not only electricity consumers, but also those who use natural gas and coal. The tax on natural gas is expected to increase from NIS 19 to NIS 192 per ton by 2030. There are also plans to reduce the use of coal in Israel in the next two years as part of environmental and economic measures.

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