Malta’s Prime Minister Robert Abela has stated that the current soar of gas and oil prices amid Russia’s invasion of Ukraine will not affect Malta’s electricity bills.
In an interview on ONE Radio earlier today, the Prime Minister stated that despite occurring beyond our shores, the sanctions placed by world leaders will increase prices of raw materials, noting that the first global impact was in increase in prices of oil and gas.
“The EU is making arrangements to procure gas from different sources but Malta already has a deal for the provision of LNG that will guarantee a stable price,” Abela stated before ensuring that he will honour the commitment. Moments after Russia’s invasion of Ukraine the price of liquefied natural gas (LNG) rose around 19% to a price of of €105.60 per megawatt-hour.
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