Electricity prices generated with gas will not be fixed for 10 years, as promised, but “a minimum of five”, according to the call for expression of interest seen by The Times.
No explanation was provided by the Energy Ministry, which stressed that a “commercially sensitive process” was underway.
“The commercial decisions will be made at a later stage of the process and will be informed by the proposals received and commercial advice received to safeguard the national interest,” a ministry spokeswoman said.
During the election campaign, Labour said it would seek a 10-year fixed-price agreement to make this a “safe investment” for the winning bidder, while guaranteeing constant prices.
The PN had questioned the feasibility of this idea, warning that no company would be willing to set the prices for a decade and expose themselves to potential changes in the industry.
Labour’s pledge to reduce electricity tariffs by 25 per cent was one of the most talked about proposals during the election campaign.
Labour’s plans were outlined by Konrad Mizzi, now Energy Minister, and has just issued an international call for expressions of interest.
According to this document, which the ministry...
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