The establishment of an energy pact for 2011 to 2015 by a purposely set up tripartite committee is being proposed by the Malta Employers’ Association.

The MEA said that all social partners needed to be united in purpose to agree on an Energy Pact that would establish how energy prices would be determined over this period.

The association proposed setting up a tripartite committee that would be composed of technical experts nominated by the social partners to design a model which would factor in the price of oil; the level of consumption; inefficiencies at Enemalta; the link to the European Grid; the diffusion of alternative energy; and the benchmarking of rates with those of major competitors to determine the price of energy in the coming years.

This would make planning easier for businesses and the model itself would be a source of much needed stability during the period covered by the pact.

The committee would also address the immediate situation to offer solutions to minimise the negative impact that the revised tariffs would have on industry.

The association reiterated its position that Malta could not be in a position where energy rates were the highest in the European Union and also among Asian economies.

The country could only emerge from the recession if the social partners and political parties support policies that make it competitive, and that tend to shift resources towards promoting competitiveness rather than maintaining short term consumption which was not backed by productivity.

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