Abela discusses energy preparedness with state entities, MCESD meeting planned
Plans for continued subsidies, hedging and storage
The prime minister visited Enemalta on Tuesday to discuss measures to guarantee security of supply and stability in prices for families and businesses amid international uncertainty in the international markets, the government said.
The meeting was attended by Energy Minister Miriam Dalli and representatives of various state bodies involved in the provision of energy, including Enemalta, Enemed, Interconnect Malta and the International Energy Service Centre (IESC).
The government also announced that the Malta Council for Economic and Social Development will meet on Friday when the social partners will be briefed on preparations for 'all eventualities' in view of the current international uncertainty.
The government said those plans include continued subsidies of energy bills for households, hedging agreements with international banks and increased storage.
Robert Abela observed that while some countries were facing fuel shortages and price inflation, Malta had been able to keep prices stable thanks to sound finances, strategic investments and timely decisions. The government was determined to continue to protect families and businesses through a policy that ensured the security of energy supply and economic stability.
Miriam Dalli noted that the Maltese currently paid €1.34 per litre of petrol and €1.21 for diesel, when the eurozone average was €1.95 and €2.16 respectively.
This had come about because Malta was the first EU country to subsidise costs for consumers and Malta was the only country in Europe that hedged fuel prices for motorists, among other hedging arrangements, she said.