Some firms can expect up to 29 % cut in rates

Nearly 90 per cent of businesses that use less than 20,000 units of electricity a year can expect to see a 29 per cent reduction in their bill from April 1.

Likewise, one-, two- and three-person households will be paying an average of 25 per cent less than they did over the past six months as the revised lower electricity tariffs kick in.

The revision follows a drop in costs for Enemalta by almost 17 per cent since October, with the biggest contributing factor being the price of oil.

In view of this drop, electricity tariffs have been revised downwards by an average of 22 per cent for households and up to 26 per cent for commercial and industrial consumers.

However, the water tariffs would remain the same as those established last year because the cost base for water production remained practically unchanged.

While business were previously on normal and reduced rates they will now be all on the same level.

To incentivise night-time electricity use, Infrastructure Minister Austin Gatt said there would be a day/night billing option. There has been a €0.002 increase in the day rate and a €0.005 decrease in the night rate.

The new tariffs, which were based on the principles adopted by Enemalta, have not yet been given the green light by the Malta Resources Authority.

The minister said all the bills under the October tariffs had now been issued. He insisted that the new tariffs would not be backdated and consumers would not be refunded for bills paid since October.