Tag: Price
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Nearly 50% of electricity in the EU generated from renewable sources but electricity prices remain high
According to the latest statistics issued by Eurostat, up 47.5% of all electricity in the EU was generated from renewable energy sources with a 2.1% increase from the previous year. The renewable energy sources were composed of wind, with up to 38%, hydro-power with up to 26.4% and solar power with up to 23.4%. Austria…
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Oil price crashes as OPEC increases production: NatGas winds down
On Thursday last week, OPEC announced an increase of oil productivity by 411,000 barrels per day with a total of 2.2 million barrels, that lead to the oil price crashing after the announcement. Brent Crude is currently at $63.62 from its Thursday high of $73, down by more than 12%. The countries implementing the oil…
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Frustration mounts for tourists as Malta’s bus fare system sparks confusion
A visitor to Malta has expressed frustration with the island’s bus fare system after encountering discrepancies in ticket pricing that have left passengers confused. The tourist, who asked to remain anonymous, has been using Malta’s public buses for transportation and noticed a recurring issue where they are charged €2.50 by bus drivers, only to receive…
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On cruelty and organised criminals
Truth is always the first culprit of authoritarian regimes. In Malta, we are going through the early formative stages of an authoritarian regime with a democratically elected criminal organisation that is subverting democracy and has captured the state. The characteristics are all there. We have a similar system to a one-party state with a feeble…
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Miriam Dalli is confusing premium with “price stability”
Minister for Energy Miriam Dalli replied to a parliamentary speech by Opposition MP Mark Anthony Sammut with a diatribe against the Opposition riddled with cliches and slogans including “peace of mind”, “state of the art”, and “we are doing even more” among others. She still can’t get into the mindset of a minister who is…
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A summary of the Maltese government’s gas trade
Ever since last year, I have been following closely the natural gas market due to the Russian invasion of Ukraine. I was short natural gas in September last year, and I also followed the story on the Maltese government’s gas purchase for which it issued subsidies to keep electricity prices low. Malta’s gas purchases were…
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Another gentle reminder
The price of natural gas has fallen by more than 25% ever since Miriam Dalli gave an interview with Lovin Malta and said that prices will go up again. Miriam Dalli was replying to a question on the government’s gas purchases by which the government made a bet on continued and long-term expensive gas prices.…
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Update on Miriam Dalli’s energy trade
Last April, after severe public pressure, Energy Minister, Miriam Dalli revealed that the government is buying gas against price changes linked to the oil price. It’s not a hedging contract and as I explained the government is not hedged on its energy trade. The minister didn’t provide any other details. This is how major gas…
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Some notes on gas
Last week, I wrote an article saying I was betting that gas prices would fall and the worse is over for Europe’s energy crisis. Electricity prices kept going down even after Russia announced its indefinite closure of Nord Stream. You can see the comparison here, and here. I am still short a US natural gas…
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Bloomberg reveals Miriam’s State Secret
Yesterday, a Bloomberg journalist Tweeted a map showing electricity prices in Europe that was originally sourced from the European Association for the Cooperation of Transmission System Operators. It was the first time that many of us Maltese had a glimpse of how much our government is purchasing electricity from its corrupt contracts namely Electrogas and…