Electrogas: Gasan Enterprises

Gasan Enterprises Ltd. holds a 35.17% share in GEM Holdings Ltd, which holds a 33% share in EGM Holdings Ltd, which in turn owns Electrogas.

Research by The Shift found a tie, through marriage, between Paul Apap Bologna from CP Holdings and Greta Apap Bologna, a member of the Gasan group.

Enemalta is bound to purchase all energy generated by Electrogas for 18 years, in turn, passing on the questionably higher costs (plus a profit margin for Electrogas) to consumers. As a result, Malta pays a higher electricity rate (net of tax) than most European counterparts.

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