ENEL: ENEL TRADE AND ENEMALTA SIGN MALTA-SICILY INTERCONNECTOR AGREEMENT

Published on Thursday, 29 January 2015

Enel Trade will oversee the commercial operation of the interconnection cable between Sicily and Malta that supplies electricity to the Maltese Islands from Italy.

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 Enemalta’s 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 Group’s capacity to supply customized long-term products based on the requirements of the individual counterparties. It also underscores the importance of the Company’s 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.

 

All Enel press releases now have smartphone and tablet versions.
Download Enel Mobile App from  Apple Store and Google Play

General | January, 29 2015

1663195-1_PDF-1.pdf

PDF (0.1MB)DOWNLOAD

Enel S.p.A. provides for the dissemination to the public of regulated information by using SDIR NIS, managed by BIt Market Services, a London Stock Exchange Group's company, with registered office at Milan, Piazza degli Affari, 6. For the storage of regulated information made available to the public, Enel S.p.A. has adhered, as from July 1st, 2015 to the authorized mechanism denominated “NIS-Storage”, available at the address www.emarketstorage.com, managed by the above mentioned BIt Market Services S.p.A. and authorized by CONSOB with the resolution No. 19067 of November 19th, 2014. From May 19th 2014 to June 30th 2015 Enel S.p.A. used the authorized mechanism for the storage of regulated information denominated “1Info”, available at the address www.1info.it, managed by Computershare S.p.A. with registered office in Milan and authorized by CONSOB with resolution No. 18852 of April 9th, 2014