[attach id=278448 size="medium"]Tonio Fenech. Photo: Matthew Mirabelli[/attach]

Giving a Chinese company a shareholding in Enemalta may have implications on the end price for consumers, according to Tonio Fenech.

The former finance minister, who was responsible for Enemalta, says the State energy company operated at a loss to keep consumer electricity prices low.

“What is certain is the Chinese will not be doing this out of charity, they will want profits and a return on their investment,” Mr Fenech argues, adding the Government has a duty to say what will happen.

In a measured tone he insists the Government has to provide more details on the deal, including what will happen to the surplus Enemalta workers when the Marsa power station closes down. He also insists the quantum and price of the shareholding that will be given up have to be divulged.

“It is true the Government has said this is a preliminary agreement and the details have to be worked out but we cannot say whether the deal is advantageous because it is not yet clear what Enemalta will give back,” he argues.

But Mr Fenech questions the wisdom of having half the country’s electricity produced by Enemalta that will no longer be wholly Government owned and the other half by a foreign company that will build and run the new gas power station.

He says the Government has to say whether it had discussions about the agreement before the election.

“The privatisation of Enemalta was not in the electoral manifesto and such agreements are not reached in such a short time span.”

He says the Nationalist Party’s principle concern is that the privatisation of an essential service is being done behind everybody’s back.