EU financial tools should be maximised to attract offshore renewable energy in the Mediterranean – Minister Miriam Dalli
Speaking during the Extraordinary Energy Council meeting in Luxembourg, Minister for Energy, Enterprise and Sustainable Development Miriam Dalli urged the European Commission to support member states in addressing their different realities during the current energy crisis in Europe.
Minister Miriam Dalli emphasised the Maltese government’s commitment to continue protecting consumers and businesses in this energy crisis.
EU Energy Ministers met in Luxembourg to discuss the measures that need to be implemented urgently. The meeting followed on the conclusions of the European Council held last week, which Prime Minister Robert Abela attended.
Minister Dalli argued that Malta has always been vigilant to protect its competitiveness and always managed to protect families and businesses from disproportionate costs associated with ensuring security of supply. As a matter of fact, Malta currently has amongst the lowest energy tariffs in the EU.
The insularity of Malta being unconnected to mainland Europe and the COVID-19 pandemic are exerting inflationary pressures, thereby they have the potential of affecting Malta’s competitiveness in the process.
The Energy and Enterprise Minister remarked that the current toolbox as proposed by the Commission does not take into consideration certain variables, such as global market dynamics which can result in price fluctuations.
Minister Dalli highlighted the importance of renewables for Malta and reiterated the country’s commitment to cleaner energy. In this regard, she called for stronger financial support through EU financial tools to attract investment in offshore energy in the Mediterranean.