Enemalta is expecting to end the year with a loss after tax of €19.5 million, an improvement from the €31.5 million loss last year.

Figures tabled in Parliament yesterday show the corporation making a turnover of €594.4 million this year, from €629.1 million last year.

The biggest increase in outlay this year will be on the feed in tariffs (paid to those who sell PV electricity to the corporation. The outlay will rise to €20.5 million from €6.6 million last year.

The projections show  an advance to the corporation of €30 million for the new gas power plant and a government subvention of €25 million.

Earlier this month, Enegy Minister Konrad Mizzi said the government had not yet received the €30 million upfront payment it was due to get on the signing of the contract with the Electrogas consortium, which will be building the new power station and supplying electricity and gas to Enemalta.

Instead, the payment would be staggered over a number of months.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.