Businesses should be able to choose their preferred source of energy

23rd May 2017

The Malta Chamber has called for businesses to be allowed to purchase their own energy from the existing available sources in order for them to be able to make considerable savings on their energy bills.

In its pre-electoral proposals document, the Malta Chamber has called for businesses to be allowed to purchase their own energy from the existing available sources. This way, businesses would be able to choose the source of energy that best suits them and in the process make considerable savings on their energy bill.

“Government should explore the possibility of private initiatives or private-public partnerships for more cost-effective and efficient distribution of energy to industrial users,” the document said. “Investment in new infrastructure would create private distribution hubs in industrial and other clustered areas, with the possibility of acquiring energy from different sources and at the best rates.

”The Malta Chamber dedicated one of its 12 areas of interest of the document Policy Proposals for a Competitiveness-centred Electoral Manifesto to Energy. The document lists a number of concrete proposals aimed at lowering the cost of energy for Maltese businesses as it reiterates the Chamber’s call for cheaper energy bills for businesses.

“Despite the 25 per cent reduction introduced in April 2015, Malta’s average industrial tariffs remains well above the EU-28 average and is the fifth highest in Europe. These figures need to be taken in the context that Malta is the sole European member state when energy tariffs for industrial consumers are higher than those for households,” the Chamber argued.

The Chamber said that while stability in prices was considered desirable, this cannot come at the expense of competitiveness.

Contributing more solutions to the situation, the Malta Chamber proposed the re-introduction of incentives that promote investment and use of renewable energy sources and cleaner fuels as well as a revision of the Night Tariff framework to one with a lower eligibility threshold and a wider timeframe.

“An effective way to achieve higher investment of renewable energy is to create a system of ‘energy vouchers’ which are credited against companies’ energy bills.”

Furthermore, the Malta Chamber suggests the setting up of a system that rewards companies demonstrating a consistent reduction in their energy consumption with corresponding lower electricity rates.

The Chamber presented the document which is titled Policy Proposals for a Competitiveness-centred Electoral Manifesto to the Prime Minister Dr Joseph Muscat and the Leader of the Opposition Dr Simon Busuttil. In all, the document proposes 71 concrete deliverables split in to 12 chapters, each tackling an important aspect of Malta’s economy.

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