Enemalta seeking minimum five year gas fixed price deal, not promised 10

Electricity prices generated from gas will not be fixed for 10 years, as promised, but “a minimum of five”, according to the call for expression of interest. No explanation was provided by the Energy Ministry. 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. According to the call, the fixed- term contracts for both gas supply and power purchase “will have an initial fixed price for a minimum of five years from commencement of commercial operations”. This would be followed by “an indexed price” for the remaining period, the document states, without specifying what this meant. Full story in The Times.