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ElectroGas in Malta faces fines of over 10 million euros

Xinhua, February 17, 2017 Adjust font size:

The ElectroGas consortium responsible for selling gas and power to Enemalta, the main energy provider and distributor in Malta, is facing delay fines in excess of 10 million euros, local media reported on Thursday.

According to the reports, Enemalta imposed the penalty on Electrogas for late delivery of a new power station.

The building of the new power station by Electrogas would mean cleaner power, lower emissions and cheaper electricity. But ElectroGas failed to achieve the "energy delivery" by the scheduled date.

ElectroGas has already paid 30 million euros in development fees to Enemalta. However it would have to pay 10 million euros in penalties for delay in the building of the new power station.

It has been reported that these fines have been accruing since October 2016. Endit