Better power tariffs thanks to interconnector - Fenech

Malta can look forward to better electricity rates following its interconnection with the Italian energy grid, Finance Minister Tonio Fenech told delegates at the opening of the Eurelectric annual conference this morning. He also reiterated that Malta is considering using gas for the power station. "The Maltese Government is seriously evaluating the installation of a gas pipeline to the European gas network in order to switch to the cleanest of fuels for our electricity generation. Such a project clearly will depend on a decision that the European Union will be taking over the coming months, namely whether to include such a project – and the level co-financing – in its post 2013 financing period," the minister said. Mr Fenech touched on supply issues which have pushed up oil prices, notably concerns surrounding Iraq, Iran and Nigeria. He said that despite its own challenges, related mostly to physical isolation, Malta had not shied away from also setting ambitious targets. Malta plans to reach 10% of all the energy consumption from a renewable energy mix by the year 2020. In recent years Government undertook several national initiatives to sensitise members...