The PN in Opposition has questioned whether the financial situation of Gasol, which forms part of the Electrogas consortium (the preferred bidder chosen by the government to build a new power station and supply electricity to Enemalta Corporation), will have a negative impact on the development of the new power station, especially in the light of delays in the project's timeframes.

Gasol has a 30 per cent stake in Electrogas, one of its major shareholders.

Speaking during a news conference held at the party headquarters in Pieta, PN deputy leader Mario de Marco referred to Gasol's financial estimates published in September, which do not portray a rosy picture. He asked if the government had chosen to process the bid by means of a tendering process, it would have been found out that the company is not financially stable and therefore would not have formed part of the consortium.

"We are not accusing the government that there was no due diligence but we are asking what the situation is; if the government fails to reply to our concerns, this is when speculation starts, which may make more damage than good," he said.

The annual report of Gasol's financial statements for the year ended 31 March 2014 was published on 11 September this year.

The report, under the sub headlines 'Funding and Going Concerns', read that the business of the company currently represents a mix of early stage opportunities and defined projects and these opportunities may lead to large capital intensive long-term projects which it is anticipated will not generate revenue for several years. As a result, the company is likely to be required to obtain significant capital in the future. There is no assurance that it will be able to raise such capital when it is required or that the terms associated with providing such capital will be satisfactory to the company.

The Group is reliant upon its ability to successfully raise further financing to settle existing loan repayments and fund working capital. The Group does not currently hold sufficient cash or liquid assets in order to meet its commitments as they fall due for the next 12 months.

Dr de Marco said it is bad enough that everyone is in the dark to when the new project will start. He said that Labour's electoral pledge was that household energy tariff reductions were to happen as a result of a 30 million euro deposit, which was not paid as yet, while industry is to benefit from cheaper tariffs as a result of the building of a new power station. But the government, Dr de Marco said, did not stick to its electoral pledge when it failed to stick to the timeframes to build the new power station.

Dr de Marco said that had the energy related contracts been made public, one would know what the contractual obligations are in the interest of the public.

PN MP George Pullicino said it is worrying to learn that Gasol did not manage to collect the capital it was meant to collect.

A question made by Dr Pullicino to Dr Mizzi in parliament earlier this week raised the issue if the financial position of the bidders is positive and strong, including that of the individual components of the joint ventures or consortium, and if the requisites for the bidders were or still are based on their financial situation in order to remain eligible to continue with their contractual commitments.

Dr Mizzi replied: "The consortium was vetted on the strength of its finances and the contract was given based on the bidding process criteria" but stopped short of saying the company's current financial position and if the requisite still holds today.

Pullicino says when cornered, government engages in mudslinging campaigns

Dr Pullicino was asked by journalists if he feels that his leader, Simon Busuttil, still believes in him. He replied saying yes indeed and "we all know that when the government is cornered it engages in mudslinging campaigns".