The power station guarantee is no straightforward matter. To this end, the Malta Chamber suggests that, in the best interest of the country, all the facts surrounding the issue are made known and interpreted in an objective way, the chamber said in a statement.

Earlier this week, the government said that an €88 million state guarantee to cover a bank loan for ElectroGas to build the new gas power station was a temporary solution, and necessary “in the national interest”.

The Chamber said it made every effort to seek the necessary facts on the matter and in its view, the project in question forms an intrinsic part of Malta’s Energy Plan and the business community deems stable and affordable energy supply on the Island as a matter of prime strategic and economic interest.

The Malta Chamber augurs that the EU Commission interprets the situation in this broad context and takes into account, in its formal position, the security of supply agreement contemplated in the original tender. Indeed, if the Commission gives the necessary clearance, the guarantee provided would be temporary.

The Chamber suggested that a full presentation of the relevant facts is made in the appropriate fora, to ensure better transparency. Further delay in presenting the full details on the matter shall continue to raise unnecessary yet understandable doubts within the country, the chamber said.