W&E tariffs to remain unchanged next year
Water and electricity bills will remain unchanged next year, the Finance Ministry confirmed yesterday.
A ministry spokesman said when contacted by The Sunday Times: “Despite increases in the price of oil, tariffs will be maintained at the current level thanks to the successful locking of the oil price by Enemalta for a significant part of the country’s oil requirements for 2011 at levels just under $82 a barrel.”
He pointed out that the current price of crude oil stood at around $87 a barrel while future prices for 2011 were already touching the $90 mark.
According to Resources Authority chief executive Anthony Rizzo, Enemalta is only required to obtain authorisation from MRA when it wishes to change the tariffs.
However, despite there being no legal obligation on Enemalta the regulator will be requesting the company “to substantiate its position” nonetheless, Mr Rizzo said. It was this time last year that Enemalta had submitted a report to the Malta Resources Authority proposing the higher tariffs consumers have been paying throughout 2010.
The energy regulator analysed the company’s cost structure and gave the go-ahead for the higher tariffs. The authority had denied Enemalta’s request to recoup loss of income because of lower consumption by transferring the cost to the following year.
In justifying the upward adjustment to tariffs Enemalta had said oil represented 62 per cent of all the company’s expenses.
It had projected an increase in oil prices of €47.5 million and also sought to recoup some €10 million from consumers for investments made in the new sewage treatment plants, the smart meter system and the Delimara power station extension. ksansone@timesofmalta.com
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paul micallef
Nov 7th 2010, 16:59
U mela, imbaghad tigi l-elezzjoni u jorhos, jew issir xi miraclu ta gurnata ta qabel il- votazjoni, INSIBU IZ-ZEJT. u hallina.
Pat Hobson
Nov 7th 2010, 13:05
Looks like the PN government has accepted one of the proposals put forward by Joseph Muscat. Joseph Muscat had proposed that there should be capping of the tariffs. As usual, while not acknowledging this fact, the PN has altered it to make it its own.
tony fava
Nov 7th 2010, 12:27
CARA DAQS IL-KRISTALL. ISSA QED JEHLEB LILL POPLU U GABNA ID QUDDIEM U OHRA WARA SABIEX SENA QABEL L-ELEZZJONI JKOLLU SABIEX JFERREX IL-BZAR FL-GHAJNEJN. HON FENECH U GONZIPN VERA TRID TKUN GENJU BIEX TINDUNA (SIC).
Joseph E Briffa
Nov 7th 2010, 11:59
To all commentators who believe - which I very much doubt - that prices and taxes will go down in the event of a change of administration - people are now complaining about increase in utility tariffs and fuel. These increases are marginal when compared to the QUADRUPLING of fuel prices in 1973 - when there was Labour in government. Petrol went up from 4/6 (Eur0.55 to Eur2.50 a gallon) This quadrupling took place overnight after the Yom Kippur war in October 1973. The next day the roads were practically empty; I remember driving from Sliema to Valetta in third and fourth gear practically all the way. People got used to it after a while, cars started to make their reappearance on the roads. I am not saying it was Labour's fault, the price of crude had skyrocketed. My point is that no political party in Malta has any say on the price of crude. Those who believe that a change of administration will result in a substantial drop in utility tariffs or fuel or butane gas are naive, or out of touch with reality. All politicians the world over change tack and give us reasons for their actions.
J.Camilleri
Nov 7th 2010, 11:57
Voldieri se tkompli tislohna! Ara int ma thosshomx il-kontijiet ghax qed tithallas ta ministru u ta deputat parlamentari! U din fejn qatt smajniha!
X'gharukaza!
H Galea
Nov 7th 2010, 11:32
May I ask enemalta what next year means. Does it mean the Full 12 months of 2011. We already had this trick in the past, will we have the same system applyed.
Peter Shaw
Nov 7th 2010, 11:11
Malta is being called "Long Nose Island" due to the noses getting bigger because of the lies of politicians1
Joseph Cauchi
Nov 7th 2010, 11:03
@ E. Vella,
Luckily for the Long Islanders, they do not have to rely solely on imported fuel, like we do, but they have the luxury of availing themselves of nuclear energy and coal, which is available from the national grid and actually quite abundant in the U.S.A.!
Only if Malta could have just a tiny part of this luxury!
JC.
c camilleri
Nov 7th 2010, 10:55
in 2009 the Finance Ministry, Tonio Fenech to be more precise, also said that in 2011 there shall not be any increases in taxes - and here you go he increased excise DUTY on the fuel effective immediately, i.e. in 2010. Who shall we believe? People who are constantly promising and backtracking afterwards? They did in the past many times, they did it before the election to win votes and they are doing it now! How can they convince us they shall not do it in the future?
David Ganado
Nov 8th 2010, 10:48
Hey, i remember someone promising to remove VAT.......and he did, once he once the election on that promise, only to replace it with CET!!
It's impressive how some people are so easily fooled!
Justin Vella
Nov 7th 2010, 10:53
Exactly they will decrease before next election. Very clever Mr Tonio.
Peter Busuttil
Nov 7th 2010, 10:49
Well, of course the W&E tariffs will remain the same next year....but the year after, they will change. For the better, that is. And income tax will be cut as well. Why? Because election time will be just round the corner.
gcForte
Nov 7th 2010, 10:47
@ Ministru..........Ser inzomm din id data go mohhi, ghax naf fic cert li mhux ser izzomm din il weghedha. Matul is sena id diehla Alla biss jaf x`ser jigri, u int qeghed tkun pruzuntuz u tbassar li mhux ser tinqala xi haga li tista iggib l-iskuza li ma kontx taf x`ser jigri. Jien izjed nahseb li qeghed tiprova tigbor gieh il gvern, u tiprova traqqad il kwistjoni li inqalet ta l-ARMS. Nixtieq nistaqsi..........Meta thallsu dawk li sar l-izball mahhom ? Jekk ilhom li thallsu ghalhiex il P.M. qal ghal darbtejn li ma jaf xejn u ser jinvestiga ?( f`Xarabank ta nhar il Gimgha li ghaddiet ). Jekk thallsu issa, jigifieri bejn il Gimgha u is Sibt ? Nahseb li tkun tad dahq din, jew tal biki....... Hux?
Jeremy J Camilleri
Nov 7th 2010, 10:40
Despite increases in the price of oil, tariffs will be maintained at the current level thanks to the successful locking of the oil price by Enemalta for a significant part of the country’s oil requirements for 2010
Wasn't locking oil prices criuticised heavily by the Pn in the past?
Rocco Cauchi
Nov 7th 2010, 10:36
Price locking? Is this the same as the price hedging government was so adamantly against up to a couple of years ago? Times change.
C Bonnici
Nov 7th 2010, 10:35
If there has been a "successful locking of the oil price by Enemalta for a significant part of the country’s oil requirements for 2011 at levels just under $82 a barrel." why can't we also have a guarantee that fuel prices too will not go up next year?
E. Vella
Nov 7th 2010, 10:33
http://www.msnbc.msn.com/id/40036111/ns/local_news-new_york_ny/
Somewhere else they aren't : Long Island Electric Bills To Drop In 2011
C Falzon
Nov 7th 2010, 11:13
@E. Vella
The electricity prices in the US are not particularly relevant as the electricity there is produced mostly from coal and nuclear.
Most of the coal is mined in coal fields owned and operated by the very same companies that produce the electricity and the cost is therefore not dependant in any significant way on the price of oil.
The same applies for some countries in Europe, most notably Germany (coal) and France (nuclear).