Israel Electric Corporation (, abbreviation: IEC) is the largest supplier of electrical power in Israel and the Palestinian territories. The IEC builds, maintains, and operates power generation stations, sub-stations, as well as transmission and distribution networks in Israel. The company is the sole integrated electric utility in the State of Israel. Its installed generating capacity represents about 75% of the total electricity production capacity in the country. It transmits and distributes substantially all the electricity used in Israel, including power generated by other producers. The State of Israel owns approximately 99.85% of the company. History After British forces conquered Palestine, they had to deal with conflicting demands rooted in Ottoman rule. For example, on 27 January 1914, the city of Jerusalem had granted a Greek citizen, Euripides Mavromatis, concessions for the supply of water, electricity, and the construction of a tramway system in the city. Work under these concessions had not begun and by the end of the war the British occupying forces refused to recognize their validity. Under the British administration, concessions from the Mandatory government were given. On 12 September 1921, the British formally signed the “Auja (or Yarkon) Concession” which granted Pinhas Rutenberg's Jaffa Electric Company a 70-year concession granting it exclusive rights to generate, distribute, and sell electricity in the administrative District of Jaffa, and authorized Rutenberg to generate electricity by means of hydroelectric turbines that would exploit the water power of the Auja (Yarkon) river. However, Mavromatis challenged the concession claiming that his concessions conflicted with the Auja Concession and that he was being deprived of his legal rights. The Mavromatis concessions, in effect despite earlier British attempts to abolish it, covered Jerusalem and other localities (e.g., Bethlehem) within a radius of around the Church of the Holy Sepulchre. In the end, Rutenberg's company concessions remained and the company built a power plant that produced electricity using diesel-fueled engines, and by 1923 Jaffa Electric Company's grid covered Jaffa, Tel Aviv, neighboring (mainly Jewish) settlements, and the British military installations in Sarafand. In 1923, Rutenberg founded the Palestine Electric Corporation, Limited which was granted the "Jordan Concession". Rutenberg merged Jaffa Electric Company into that company, which in 1961 was renamed the Israel Electric Corporation Ltd. Rutenberg built the First Jordan Hydro-Electric Power House at Naharayim on the Jordan River, which opened in 1932. Pursuant to the Concessions, the company was granted the exclusive right to generate,