Rome-La Valletta, January 29th, 2015 Enel Trade SpA and Enemalta plc, the main electricity generation and distribution services provider in Malta, today signed a five-year framework agreement for the commercial operation of the 200 MW interconnector between Sicily and Malta that supplies electricity to the Mediterranean archipelago from Italy, which is scheduled to enter service by the first half of 2015. The agreement was subscribed by Leonardo Zannella, Head of Global Front Office, Enel Trade, by Fredrick Azzopardi, Executive Chairman, Enemalta and by Sun Ji, Deputy Chairman, Enemalta.
Enemalta is undertaking structural works associated with the reconversion of an existing plant from oil to natural gas, the construction of another new gas-fired plant and related LNG facilities as well as the development of the Malta-Sicily Interconnector. These works are aimed at switching to cleaner sources of energy and ensuring the reduction of power generation costs in the islands.
Following the selection process launched in May 2014 by Enemalta, Enel Trade was selected as a partner to supply electricity from Italy through the Interconnector.
In line with the agreement, Enel Trade will purchase electricity from Italy on Enemaltas behalf. More specifically, the commercial agreement governs the terms and conditions for accessing forward and spot markets, the supply of all associated services and the commercial management of the cable, including dealings with Italian institutional counterparts.
The partnership will allow Enemalta to operate with the highest level of flexibility in the Italian market, enabling the company to optimise electricity supply costs in Malta.
The agreement demonstrates the Enel Groups capacity to supply customized long-term products based on the requirements of the individual counterparties. It also underscores the importance of the Companys role in supplying domestic and international services, thanks to its positioning in various electricity markets, developing ad hoc tools and exploiting the synergies of its portfolio.
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