ElectroGas – Secret Socar Side Deal: Taxpayers Absorbed the Risks, Not the Profits – PN

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Tista’ taqra bil-

Taxpayers assumed all the risk in the Electrogas plant when the government donated to the consortium by guaranteeing its debts to SOCAR, the Nationalist Party said on Saturday.

The once-secret deal was released recently and showed taxpayers would have had to foot the bill if ElectroGas had defaulted on its debts to SOCAR.

The Shift News published the LNG supply security agreement which was personally signed by the disgraced former energy minister Konrad Mizzi in April 2015 and SOCAR Trading – a Swiss subsidiary of the Azerbaijani government company SOCAR. The deal was secured by the Daphne Caruana Galizia Foundation after a year-long battle with the Department of Energy after filing a request under the Freedom of Information Act.

The agreement in question was never disclosed to Parliament and hidden from the European Commission.

ElectroGas – SOCAR Offered Secret Taxpayer-Funded Guarantee, New Deal Shows

At a press conference on Saturday, the Nationalist Party observed that the secret security of supply agreement between the government and SOCAR meant that all the risks of the project were borne by the taxpayers, while the profits were collected by others.

PN MP and Shadow Energy Minister Mark Anthony Sammut condemned the deal, lambasting remarks by Energy Minister Miriam Dalli, who recently claimed the deal had been terminated and would not had never been called “incorrect”. Sammut pointed out that without the agreement, SOCAR would never have sold electricity to ElectroGas.

He said the government lied to parliament when it said the security of supply deal was being discussed with the European Commission. The MP pointed out that the leaked emails show they were worried if the deal was made public as it might have breached state aid rules.

The MP also referred to a parliamentary motion tabled by the opposition in 2017 requiring all deals related to the outraged power station to be published, and said it had been dropped by the government.

“The Labor Party and Prime Minister Robert Abela knew about all the side deals, the same way they knew about the side deals in the Sadeen and hospital concession deals,” Sammut said.

He wondered why the PL still “protected” and refused to convict Mizzi, two years after his dismissal from the party.

“Labour has hidden these details for 10 years and transparency in the sector is essential. We need to know how energy subsidies are spent. How much actually goes to the consumer and how much is used to subsidize the profits of Shanghai Electric and Electrogas? asked Sammut.

PN MP and Chairman of the Public Accounts Committee Darren Carabott also addressed the press conference and said the country was ‘stuck’ because nine years later the scandal was still ongoing. discussion.

The PAC is currently discussing the findings of the National Audit Office investigation into the ElectroGas contract.

“This secret deal meant that the government had decided that a company was needed for the electricity supply and acted as a guarantee in case the project failed,” Carabott said.

Electrogas: Similarities Support Allegations of Pre-Election Deal – NAO


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