Enemalta Takes Legal Action Over Delayed Carbon Credit Deal
Enemalta issued a clarification regarding a recent media report about an incident linked to a commercial transaction with a financial intermediary operating in the energy and carbon markets. The company cautioned against any misleading conclusions or unwarranted repercussions that may arise from inaccurate reporting.
According to Enemalta, the matter concerns trading activities that are part of its regular operations, specifically involving European Union Allowances (EUAs), or carbon credits. These trades are conducted under a Master Agreement established by the International Emissions Trading Association (IETA), following international standards. Such transactions are common and have historically been completed without issue.
However, Enemalta’s Board of Directors was recently informed that, out of 11 EUA transactions carried out with the same company, three failed to meet the agreed deadline. As a result, Enemalta is taking steps to recover the funds owed. The company has engaged legal experts in Malta, the United Kingdom, and Switzerland to handle the matter. A respected London-based law firm is managing the process, while a Swiss firm is assisting due to the foreign company’s location.
Enemalta confirmed that legal discussions are currently underway and described the situation as an ongoing commercial matter. To protect its legal and civil position, the company stated it cannot disclose further details at this stage but reassured the public that it is actively pursuing all possible remedies to safeguard its interests.
Despite this issue, Enemalta emphasised its continued commitment to major investment projects aimed at strengthening Malta’s energy infrastructure. These include reinforcing existing distribution centres, developing new ones, and maintaining stable utility tariffs for consumers.
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