It is far cheaper to import electricity from Europe than to import oil to generate electricity at the power stations in Malta, according to information given in parliament.

Finance Minister Tonio Fenech said in reply to a parliamentary question that energy prices in Italy and the rest of Europe are competitive but not fixed.

The average price in Sicily in the first four months of this year was €92.40/MWh while the price of oil imports for power generation during the same period was €178/MWh, excluding salaries and other costs.

Mr Fenech said that talks have been held with electricity producers and operators about purchases by Malta. The talks still have to be concluded.

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