Surcharge dropping to 54 per cent

Enemalta Corporation is seeking the approval of the Malta Resources Authority to reduce the surcharge on electricity from 59.5 per cent to 54 per cent with effect from January 1, when the next surcharge revision is due, the Ministry of Investment and...

Enemalta Corporation is seeking the approval of the Malta Resources Authority to reduce the surcharge on electricity from 59.5 per cent to 54 per cent with effect from January 1, when the next surcharge revision is due, the Ministry of Investment and Industry said yesterday.

The corporation has also asked for authorisation to reduce the price of thin fuel oil by between Lm6.50 and Lm8 per ton with effect from the next revision due tomorrow.

Enemalta has also informed the ministry it will be retaining the current price of lead replacement petrol, unleaded petrol, diesel, kerosene and light heating oil until the end of February, since the supplies that were bought over the past months were enough to satisfy the demand.

The ministry said the reduction in the electricity surcharge - the second in a row - was due to three main factors: The government subsidy to households, industry and hotels; the different financial instruments applied by Enemalta to purchase fuels on the international markets; and the recent positive movements in such markets.

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