Energy Minister says lack of documentation ‘won’t happen again

Energy Minister Konrad Mizzi was bombarded with questions relating to fuel hedging during question time in Parliament tonight.

PN MP Mario De Marco asked about the ‘Minister’s intervention’ as highlighted in the auditor general report.

Dr Mizzi stated that his intervention was based around helping Enemalta to stay in the market. “This following information from the Chairman that fuel price indications showed that they would need to rise”. He said that SOCAR trading then came into the equation as an option in order to increase the number of players in the supply chain. He highlighted that talks had been held with Azerbaijan on the broader energy sector. The Minister argued that the only lack of documentation was where the discussions with SOCAR took place, stating that he has taken note of this.

The Finance person then wrote an email and the decision was con- firmed by all members, thus we proceeded. “Unlike the previous administration my intervention was minuted, when before we would need to find out about such interventions through emails”.

He stressed that he did not intervene when the Committee set targets adding that the Auditor General audited all hedges and hedging instructions which were there in their entirety.” In my honest opinion I do not believe it fair to say that I misled the room”, he said, referring to PN MPs who said that he misled the room when he denied interference.

Following questions by both PN MPs Marthese Portelli as well as Claudio Grech, the Minister said that Enemalta hedges for the short term, for around three months at a time. He stressed that they always attempt to go for the best price possible.

Discussing good governance, he argued that the minutes are always taken.