Power surcharge 'unchanged' at 45%

The electricity surcharge will remain unchanged at 45 per cent for the next two months, despite higher fuel prices, the Investments Ministry said.

This means that the automatic 1.2 per cent increase levied bi-monthly has been absorbed by Enemalta Corporation, it added.

The ministry said the surcharge should have reached 65 per cent since the price of fuel rose by 25 per cent between March and May.

It said Enemalta was in a position to absorb the costs by reducing its expenses and making better use of steam turbines instead of combined gas cycles.