PRESS RELEASE BY THE MINISTRY WITHIN THE OFFICE OF THE PRIME MINISTER

Today’s Times of Malta editorial keeps misguiding its readers about the European Commission’s state-aid decision on the Delimara Energy Project.

As already explained on multiple occasions, the decision by the European Commission clearly shows that Electrogas Ltd. was in no way given any undue advantage. Having made its financial and economic analysis, the Commission concluded that the return that the Consortium will be getting is in line with similar investments, and that there is no over-compensation. It also confirmed that this is a project providing a service of general economic interest to Malta, and that it was indeed required to ensure security of supply, reduce emissions, and enable the closure of the old and inefficient HFO-running plants.

It is a pity that the Times chooses to appropriate the Opposition’s propaganda arguments with regards to the reduction of tariffs. The reduction of electricity and water tariffs was only possible thanks to a long term plan that is being followed, and that has also led to a major turnaround in Enemalta, ensuring a healthy mix of clean and affordable energy-generation, whilst ensuring security of supply.

This plan continues to be lauded by the European Commission, as it addresses the core objectives of the Energy Union strategy. Various credit rating agencies have also attributed Malta’s recent economic growth not least to the bold energy reforms being undertaken, and have also upgraded Enemalta’s credit rating multiple times.

Source: Government of Malta

PRESS RELEASE BY THE MINISTRY WITHIN THE OFFICE OF THE PRIME MINISTER

Today’s Times of Malta editorial keeps misguiding its readers about the European Commission’s state-aid decision on the Delimara Energy Project.

As already explained on multiple occasions, the decision by the European Commission clearly shows that Electrogas Ltd. was in no way given any undue advantage. Having made its financial and economic analysis, the Commission concluded that the return that the Consortium will be getting is in line with similar investments, and that there is no over-compensation. It also confirmed that this is a project providing a service of general economic interest to Malta, and that it was indeed required to ensure security of supply, reduce emissions, and enable the closure of the old and inefficient HFO-running plants.

It is a pity that the Times chooses to appropriate the Opposition’s propaganda arguments with regards to the reduction of tariffs. The reduction of electricity and water tariffs was only possible thanks to a long term plan that is being followed, and that has also led to a major turnaround in Enemalta, ensuring a healthy mix of clean and affordable energy-generation, whilst ensuring security of supply.

This plan continues to be lauded by the European Commission, as it addresses the core objectives of the Energy Union strategy. Various credit rating agencies have also attributed Malta’s recent economic growth not least to the bold energy reforms being undertaken, and have also upgraded Enemalta’s credit rating multiple times.

Source: Government of Malta