Europe

Energy: People have a right to know how much of today’s subsidies subsidize the interests of others – PN



People have a right to know how much of the subsidies the government pays to keep energy prices low is supporting the interests of third parties, the People’s Party said.

When Malta invested in energy production, people took risks, but the profits were robbed by others.

PN spokesmen Mark Anthony Sammut and Darren Carabott said this morning that the government had assured Socar that the debt owed by Electrogas on the gas purchase would be paid by the government.

The Supply Guarantee Agreement was signed by former minister Konrad Miji in 2015, effectively providing a comprehensive guarantee to Azerbaijani energy company SOCAR. The Mizzi-led deal guaranteed energy providers with stakes in the Electrogas consortium that Maltese taxpayers would carry the cans if Electrogas could not afford the membership fees.

The government responded that the deal has not been implemented and is now expired. However, according to PN, the agreement allowed Electrogas to invest in the project. Without it, Socar wasn’t ready to deliver a product to her Electrogas.

The government said in June that it was discussing a deal with the European Commission, but now it has learned that the deal was hidden from the commission, PN said.



https://www.independent.com.mt/articles/2022-09-17/local-news/Energy-People-have-right-to-know-how-much-of-today-s-subsidies-are-subsidising-others-profits-PN-6736245999 Energy: People have a right to know how much of today’s subsidies subsidize the interests of others – PN

Back to top button