Government instructs MRA to revise model used to approve gas prices

The government has instructed the Malta Resources Authority to revise the model used to approve the prices of gas cylinders to encourage operators to give consumers a better deal. As the MRA approved higher gas cylinder prices today, Energy Minister Konrad Mizzi said that following discussions with operators, the authority should be in a position to have a new model by the end of this year. Expressing his view that LPG gas prices to Maltese consumers were “high”, Dr Mizzi said the new model should enable operators to procure and store bigger supplies to stabilise the price over a longer period. He said that operators currently bought their supplies on a monthly basis as they did not have the incentives to change their procurement patterns. Asked whether the new MRA model would translate into lower prices for consumers, the minister said that he could not give any guarantee as prices  fluctuate according to international prices. However, the government’s intention was to “ensure the best possible fair deal”.