Electricity tariffs for households will go down by an average of 25 per cent in March, while water tariffs will be down by five per cent, Finance Minister Edward Scicluna announced in the Budget speech.

He said this was a government which kept its electoral promises.

This measure, he said, would have a major beneficial effect on the economy and people’s purchasing power.

“Alice in Wonderland will leave €25m in the pockets of Maltese families,” he said in a jibe at the former finance minister.

He said plans for a gas-powered power station were on track, leading to cleaner emissions.

A feasibility study on a gas pipeline would be carried out. Electricity tariffs for businesses would be reduced in 2015.

OIL EXPLORATION COMPANY

Prof Scicluna also announced that the government was setting up the Malta Oil and Gas Corporation to handle all activities related to oil exploration.

ALTERNATIVE ENERGY

The minister said the government was also reviewing the National Renewable Energy Action Plan.

An intelligent street lighting project would be launched in Gozo and in 12km in Malta. The project would see the replacement of street lamps with others which consume less The new lamps would last for 60,000 hours and have a dimming effect.

Eventually, all street lamps in Malta would be replaced.

Government buildings would also be retro-fitted to using more energy-efficient lamps.

Families would also be invited to conduct energy audits which would advise them on how to save energy and water.

A €1 million project at Siggiewi school was aimed at making this school energy efficient.

WATER STRATEGY

The government would also draw up a national water plan including a review of the infrastructure on water storage and management.