Thanks to electricity demand and the strong shekel: OPC doubles its profit

OPC nearly doubled its net profit in the third quarter to $133 million, thanks to record electricity demand in the US, increased holdings in power plants, and the strengthening of the shekel which reduced gas costs in Israel. Revenues surged 119% to $575 million.

Energy company OPC, traded on the Tel Aviv 35 index, reported a record quarter with nearly doubled net profit to $133 million in the third quarter of 2026, compared to $67 million in the same quarter of 2025. Revenues surged 119% to $575 million. The increase stems from expanded holdings in two US power plants (Maryland and Shore), record electricity demand on the US PJM grid due to extreme heat and server farm connections, and high generation margins in the US. In Israel, the strengthening of the shekel against the dollar lowered natural gas costs. CEO Giora Almogi stated that the results reflect a supportive market environment and the realization of the strategy to increase US holdings. The company is expanding its project pipeline with conventional and solar power plants in the US and Israel, including the expansion of the Hadera power plant, a solar project in Ramat Beka, and a power plant at the Intel complex in Kiryat Gat.