An independent exercise carried out by Deloitte on behalf the Malta Resources Authority concluded that the model and methodologies used in the drawing up of the utility tariffs was correct, the MRA said.

The MRA said this evening that it had been undertaking an independent study of the methodology with the assistance of Deloitte.

The study concluded that the model used by KPMG appeared to have been correctly configured for the dynamics of Enemalta’s operating cost and billing structures and appeared to be a reliable basis for the purpose of computing ‘target revenue’ on the basis of the assumed cost base and proposed tariffs.

The key assumptions, applied in the model accurately tied in the assumptions laid out in the KPMG reports as amended by other official announcements and appeared reasonable for the purpose of the exercise undertaken.

It also concluded that the resultant outputs generated by the final KPMG Report as amended by subsequent charges agreed with the constituted bodies was correctly transposed into the draft legal notice.

The MRA published the Deloitte’s report in full.