Subvention to Enemalta to reach €106.9m in 15 months

Enemalta is projecting a loss of €17 million (after tax) at the end of a 15-month period in December, according to estimates tabled in Parliament.

The corporation made a loss of €10.2 million in the 12 months ending in September last year and €2.1 million in the previous 12 months.

The government subvention with spike to €106,967,200 by the end of this year, according to the projections, compared to the €41,956,700 for the year up to last September.

The figures show that the Electricity Division is projecting the total cost of fuel at €261,474,500 from €165,337,300 in the year up to September 2007

Power generation would have increased to 2,700,496Mwh at the end of December from 2,133,457 in September last year, with losses (in distribution) reaching 14.5 percent.

The Petroleum Division is projecting to see its profit after tax trimmed to €1.6 million from €2.5 million in September 2007while the Gas Division will see its post tax loss grow to €8.2 million from €2.4 million in September 2007.