Update 3 - Fuel prices will go down as hedging ends - Konrad Mizzi

Energy Minister Konrad Mizzi promised this evening that fuel prices would go down once hedging agreements expired over the coming months. 'I can assure you that prices will go down and savings will be transferred to consumers, not because of you, but because hedging would have expired," Dr Mizzi told the Opposition during a debate in Parliament this evening. The debate was held on a government motion praising the administration for the agreement reached between Enemalta and Shanghai Electric. The motion was moved by Prime Minister Joseph Muscat who said that the Opposition was being deceptive in its fuel cost calculations and it was failing to tell the people that when it was in government, it twice raised fuel and electricity prices at a time when oil prices dropped. Dr Muscat said the deal between  Enemalta and Shanghai Electric meant that Enemalta was no longer a financial millstone for Malta, and the jobs of its workers had been saved. This deal was hugely advantageous for Malta and would help boost its economy. This deal represented the biggest ever foreign investment in Malta, at €320 million. In contrast, the former finance minister had been prepared to sell Enemata for...