Complex sentence: In May, 2012, Israel's Utilities Authority for Electricity announced that it would be considering re-opening the contracts, as the prices set were higher than the average price that would be demanded under comparable circumstances elsewhere.
Split into simpler sentences: In May, 2012, Israel's Utilities Authority for Electricity announced that it would re-open the contracts. Among the reasons cited were that the prices set were higher than the average price that would be demanded under comparable circumstances elsewhere.