“To safeguard competitiveness, we must address the rise in energy prices.” This was Malta’s appeal during the Energy Ministers’ Council meeting, a position reflected in the Draghi report on the European Union’s competitiveness, the government said in a statement Wednesday.
This subject was discussed in detail, especially since several countries, particularly those in the southern part of the European Union, are facing increases in energy prices. The Maltese government is keeping energy prices stable for consumers, recognising the negative impact such increases would have on families and businesses, especially in a small island like Malta.
Minister for the Environment, Energy and Regeneration of the Grand Harbour Miriam Dalli stated, “The increase in energy prices we are seeing again in the southern EU countries shows how vulnerable the Energy Union is and how the single energy market is not functioning as it should. We will continue working with colleagues who share similar realities to ensure a stable and properly functioning single energy market.”
Minister Dalli emphasised that high electricity prices must be addressed as a priority because they put European countries at a disadvantage compared to third countries, making the European Union less competitive in the global market. She explained that energy prices must be tackled alongside other long-term initiatives to reduce countries’ dependence on non-renewable energy.
Among the proposals submitted by Malta is the need for greater investments in more interconnections and increased funding for technologies that offer flexibility, such as large-scale battery storage. Minister Miriam Dalli also highlighted the importance of European support for Mediterranean countries to strengthen interconnections with other southern Mediterranean countries. She further stressed the need to increase renewable energy, including offshore technologies, which offer more autonomy to different countries.
This topic was also discussed during a meeting of the Friends of Renewables group, co-chaired by Minister Dalli and the Danish Minister. This group, composed of 15 different countries, presented its position to the European Commission on how renewable energy can be increased before a new Commission takes office in the coming weeks.