Malta Financial Services Authority Launches Consumer Portal

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Malta Financial Services Authority Launches Consumer Portal

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QUESTIONS & ANSWERS

Meters & Readings

The smart electricity meter is an advanced meter that can store information (such as consumption readings) and transmit the data via a network to a central system. It can also receive commands from a remote location. The existing electricity meter does not permit any of this. In the case of existing meters, the consumption has to be read manually and the meter does not communicate to and from a central system.

There are three types of smart meters namely.

GISM which is a single phase (230v);

GIST which is a three phase (3* 230/400v);

GISS which is a meter installed for heavy consumers;

Every meter has either GIST, GISM or GISS printed on the left-hand side of the display

The dimensions are as follows:

GISM single phase meter 224 x 148 x 105 mm

GIST three phase meter 224 x 148 x 107,5 mm

GISS heavy consumer meter 290 x 225 x 129,2 mm

The current service box (attached to the bottom of the meter) will be retained. This must be kept in mind when considering the space requirements.

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To control and limit the load that is supplied to the meter.

Yes. Power load limits can be set and changed remotely, as can consumption limits to allow prepayment services. The limits are programmed into the meter according to pre-arranged agreements.

The meter does not require any action from your part. All operations will be done by the Utilities remotely, and you do not need to interact with the smart meter. However, we will supply a user manual for your future reference. You may also download further details and instructions from www.arms.com.mt or call customer care free phone 80072222.

No, this equipment will not have an effect on people using a pacemaker or similar equipment.

You may contact Customer care on free phone 80072222.

Yes, to read the smart meters all you have to do is to read the figures on the central LED display. For the water meter you should read the meter from left to right, only read the black digits and ignore the red digits.

The flashing LEDs indicate the rate of consumption of electricity.

The smart meter is equipped with sensors and alarms. The smart meter records such attempts and may even shut off. Any such attempts are automatically notified to the Utilities by the meter. Such actions are illegal and may lead to both criminal and civil action against the account holder.

The electricity supply would be cut off.

This is a radio-frequency device that transmits your water meter reading to our offices by emitting pulses in the form of radio waves. After installation your bills will always be issued on actual readings, without the need for a meter reader’s visit.

No. It is battery-operated.

No. In fact the RF modules transmits far less power than a mobile phone.

100 x 125 x 113 mm.

It operates on 169MHz.

The Water Services Corporation

You may contact Customer care on free phone 80072222.

To do this you would need to break a seal which is illegal and is classified as meter tampering.

Cutting the wire connection, or any similar behaviour, is considered meter tampering. The utility will be alerted by an alarm in such circumstances. Such actions are illegal and may lead to both criminal and civil action against the account holder.

This should not be the case. These modules use radio frequency at a very low power and should not interfere with any other electronic devices.

The meter reader will continue to visit your premises even after your smart meter is installed, until your smart meter is connected to the grid. This operation, known as commissioning, may take between a few weeks and a few months, depending on technical and logistical considerations. Nevertheless, in most circumstances meter readers will not visit your premises regularly after the installation of the smart meter. In certain exceptional cases, such as to repair, replace, inspect or remove your smart meter a meter reader or meter technician visit will still be required.

Firstly, your smart meter will need to be installed, and your water meter adapted with an RF device. Subsequently, when enough installations are carried out in your area, the Utilities will carry out an operation to communicate remotely with your devices. The period between the installation of your meter and the permanent communication of your meter to a central system will take between 4 weeks and 3 months depending on the area you live in. Once successful, the Utilities will advise you by mail that your readings will be done remotely, and your bills always issued on actual readings.

Once your Smart Meter is installed and subsequently activated by the Utilities, you will receive all your bi-monthly bills based on actual readings and will not need to wait for a meter reader visit any longer.

Call in your readings only if you have received an ARMS Ltd Meter Reader visit note which asks you to call within 5 days of the visit. Otherwise it is not necessary to call and provide us with your readings since ARMS Ltd has either obtained your reading remotely, or our meter reader has already obtained official readings.

Bills & Payments

As from 1st January, 2020, your Utility Account number has changed. Your customer details and balances have not been affected by this change. You will need to refer to your new account number when calling us. The change is clearly indicated in the first bill you will receive in 2020.

As from 1st January, 2020, you will only be given a bill receipt if you pay across the counter at our Customer Centre Offices. Nevertheless, your payment will show up on your next bill in your account history

As from the 1st January, 2020, interest at 6% per annum will be charged on balances outstanding for over 45 days from the date of invoice. Interest is charged for outstanding balances in three cases :-(1) if the bill is issued on actual readings; (2) if the bill is issued on readings provided by the consumer, or; (3) if the bill is a biyearly bill, i.e. has been issued following a visit by a meter reader. In the third case, interest is still charged if the bill is issued on estimate readings due to no access to the electricity and or water meter(s). The interest on late payments will be calculated as from 15 days after date of invoice. Interest is only applicable for unpaid invoices issued after 31st December, 2009. The Company may suspend your Utility services if bills remain unpaid. In the case of a service suspension, charges will apply as per Electricity Supply Regulations and Water Supply Regulations.

If there is a valid reason for the contestation you will not be charged interest

Your eco-reduction is calculated on the number of registered consumers on your account. If your electricity account has one registered consumer and you consume less than 2000 electricity units during the whole year, a reduction of 25% on the electricity bill will apply. For residences with more than one person registered on the account, and where consumption is less than 1,750 units per person, a reduction of 25% per person will apply on the first 1,000 units and a further 15% per person will apply on the remaining 750 units.

The number of persons living in a premise should be registered on the billing account referring to the premise. This information will be displayed at the right-hand top corner of your electricity & water bill. This information will have an impact on the billing rates you will be paying, as different rates are applied depending on the number of persons living in a premise. It is important to note that according to current Electricity Supply Regulations, the same person can only move his registration from one premise to another once a year. Any further change will only be formally registered the following year. Also, if the change is done after the 1st of November in one year, it will only take effect on the following year. Download the application form from here and submit it at one of our Customer Contact Centre Offices.

This information will be displayed at the right-hand top corner of your electricity & water bill. You may call our free phone on 8077 2222 for further information, or you may access your account details here.

You can download the form from here, fill it in and bring it to our Customer Contact Centre Offices, by email on [email protected] or send it by post to ARMS Ltd, P.O. Box 63, Marsa, MRS 1000, Malta.

Unless you had previously advised us for the change in Number of Persons, we will only provide you with a subsidy on the bills which are issued subsequent to the date of the update. Otherwise download and the form from here and fill accordingly. Fill it in and bring it to our Customer Contact Centre Offices, by email on [email protected] or send it by post to ARMS Ltd, P.O. Box 63, Marsa, MRS 1000, Malta.

A person can owe more than one account; however, will only be able to benefit from the “Number of persons” subsidy on one account.

When registering a person on an account, our system will automatically remove the registration of that person on the previous account (unless it is the first time the person is being registered, such as the case for new born children). Therefore, a person cannot be registered on more than one account.

An account referred to as “domestic” will benefit from residential tariffs, but will have no persons registered on the account for subsidy.

You should be receiving a bill every two months. If you are the account holder you should be able to access all your bills using your user name and password. For more details click here. You can also send an e-mail on [email protected] or call us on free phone 8007 2222. Make sure you provide us with your account number and ID Card number.

Yes. Please note that there is a fee of €4.66 which will be charged to your account and will show on the bill. You may request an up-to-date bill by downloading and filling this form and bring it to our Customer Contact Centre Offices, or send it by email on [email protected] or alternatively send it by post to ARMS Ltd, P.O. Box 63, Marsa, MRS 1000, Malta.

Form H1 should be filled. Please read the following questions and answers for further information on how this Form should be filled in and the process following the submission of this form.

Form H1 is the relevant form to be filled in by account holders who believe that they are entitled to redress from ARMS Ltd in relation to a previous application to be charged the residential rate in relation to their account (normally, through the ‘change in the number of persons declaration’ – Form H), which they believe was unfairly denied. This Form may also exceptionally be used by EU nationals who believe they are entitled to redress from ARMS Ltd and who had not applied to be charged the residential rate prior to July 2020. In such cases, the applicant must prove that s/he was primarily resident in Malta at the address linked to the account at the time in question.

When completing Form H1, one is to provide in Section A, the following details: the account number, your name and surname, number of a valid identity document, as well as your contact details. Section B then provides additional information concerning the application including who should complete the form, what additional information is to be provided as well as information on how the application will be processed. The application is to be signed and dated by the account holder and then submitted to ARMS Ltd for processing.

The applicant must present a valid identity document (if sent by post or email, a copy must be attached). Any valid form of identification such as Identity cards, passports, and residence documents are accepted as a means of identification for such purposes. A detailed statement giving a full explanation of the complaint should be attached to the application. The applicant should also submit any other documentation in support of the claim, where available.

Account holders, being EU nationals and who had not applied to be charged the residential rate prior to 2020, may exceptionally submit an H1 application to claim a refund from ARMS Ltd. In such cases applicants must, together with their application and in addition to the documentation referred to above, submit proof that s/he was primarily resident in Malta at the address linked to the account at the time in question. ARMS Ltd reserves the right to request the applicant to declare on oath that s/he was primarily resident in Malta at the specified address for the applicable time period.

The duly completed Form H1 together with a copy of a valid identity document, statement of claim and supporting documentation (where applicable) are to be submitted to our Customer Contact Centre Offices, by email on [email protected] or send it by post to ARMS Ltd, P.O. Box 63, Marsa, MRS 1000, Malta.

Yes. Applicants are entitled to submit Form H1 without supporting documentation. ARMS Ltd will verify the facts stated in the claim by reference to its own internal records and documentation.

Each claim will be reviewed on a case-by-case basis and a decision will be made by ARMS Ltd after a careful review of all available evidence and in conformity with applicable legislation.

A decision by ARMS Ltd on a Form H1 application becomes the company’s final position on the applicant’s claim, taken after careful evaluation of the matter and all available documentation. However, the applicants’ statutory rights are not affected and the submission of the Form H1 application remains without prejudice to any course of action the account holder may wish to lodge before the national Courts, particularly in those cases where no application to be charged the residential rate was lodged in the past.

You may do so my call our free phone 80072222 or you can access this information online

Yes of course. You can send an e-mail on [email protected] or call us on free phone 8007 2222. You may also visit us at our Customer Contact Centre Offices. Make sure you provide us with your account number and ID Number.

You can call our free phone 8007 2222 or send an e-mail on [email protected] and request a statement of accounts. Make sure you provide us with your account number and ID Number.

Yes of course. You will need to download and fill in this form and submit it at our Customer Contact Centre Offices or send it through e-mail together with a scanned copy of your ID Card.

If you need to add or alter your house name or number you can either send us a signed letter together with a scanned copy of your ID Card, or visit our Customer Contact Centre Offices. If you require updating the name of your street you will need to contact your local council and ask them to send us an official correspondence.

Yes. The instalment plan is set to ensure that your supply is not disconnected. However, any amounts owing after the official due date will be charged interest.

Vouchers are issued by the Department of Social Security and can be used to pay part of your Utility bill. It is important to note that the entire bill amount needs to be paid when using a voucher. Such vouchers are applicable only in specific cases related to social cases, and are approved by the Department of Social Security.

Yes, however the Utilities may require cash payment too (the amount depending on the severity of the case).

You can pay your bills through any of the following ways:

Through this (website)Online
By direct debit
Through BOV internet banking (www.bov.com.mt)
Through HSBC internet banking (www.hsbc.com.mt)
Through APS internet banking (www.apsbank.com.mt)
Through BOV phone banking (21322121)
Through HSBC phone banking (23802380)
Through BOV ATMs
Through HSBC ATMs
Any Maltapost Branch Office
By Post
At any one of our Customer Care Offices

By logging into your private home page here you will be able to view any pending bills as well as your billing history. You will be able to pay online in a secure manner.

Yes of course, however you will not be able to view details of your bill. Payment can be done from here. You will need to have access to your physical bill and key in the account details as well as the amount to be paid.

Yes, you can do this here

You may apply for this service if you wish your bills to be paid automatically from one of your bank accounts (being HSBC, BOV or APS). You will still receive a bill by post and the payment will be affected after 10 days of the date of the bill being issued. You get €3 discount per bill (€18 annually) if you pay by direct debit. The discount will be credited on the next bill. You can download a direct debit mandate from here , or we can assist you in setting up this facility at one of our Customer Care Offices.

Send a cheque payable to ARMS Ltd together with the remittance slip (tear the bottom part of the bill) in the enclosed postage paid envelope. Kindly write your Utility account number and the bill number (displayed at the top of the bill) at the back of the cheque. Do not send any cash through the mail. You may also pay by credit card by filling in the relevant details on the remittance slip. Kindly not e that there is a €35 administration charge and other relevant interest charges will be applicable for each payment which is dishon ou red . It is imperative you pay within 45 days from the date of invoice.

My Accounts

Yes, this can and normally is updated automatically.

There are no restrictions on how many accounts an account holder can have.

It is important that the client is aware of the correct account holder’s name on the invoice and if the premise is residential, the correct number of persons are registered on account.

Applying for services

If you own a premises and require the supply of water and/or electricity you need to apply by downloading form A – Application for new electricity and / or water services from https://arms.com.mt/en/services/apply-for-a-service/applications-forms and submit it at our Customer Contact Centre Offices. These services can be requested if you have the necessary electricity wiring and/or water piping installed in your premise but do not have external supply. To apply for these services, you will require to present all relevant documentation as specified in the application form, as well as pay any pending dues on all other registered billing accounts (if any).

Yes applications can be scanned and sent via email on [email protected]

New service application needs to be submitted :

As long as electricity and water is already installed you will not need to apply for this service. Instead, as long as there is an agreement with the premise tenant, you can change the present electricity and/ or water account to your name for the duration of the rent. By doing so you will be able to register your name, and any other people moving in the property, and benefit from number of persons subsidy on your bill. However, to process this request, you will be required to pay a deposit of €466 (since you are not the legal owner of the property). The deposit is offset from your last bill and any credit in your favour is paid back. The decision whether or not to register the account on your name depends on your agreement with the owner of the premise, as well as the duration of the rent. We do not recommend a change of account when periods of rent are short, i.e. less than 2 months.
As a tenant, if you have agreed to shift the account on your name, it is also very important to keep in mind that you shift the account back to the premise owner before vacating the property. Until you do so any subsequent bills will still be issued in your name.

No this depends entirely on the premise owner. However, the number of person declaration should be submitted accordingly. Download Form H for number of person declaration. If premise owner refuses and a lease agreement is signed, tenants may opt for and download From F2 for a Temporary recognition of tenant.

Examples for the need of temporary supply of water and/ or electricity are kiosks, stands and street decorations. If you require the temporary supply of water/ electricity you can download these forms From T From TE and submit it at our Customer Contact Centre Offices. The form should also be used by local councils for the supply of electricity to street lighting, traffic lights and pelican lights.

If you require removing your current water and/ or electricity supply you may apply for the disconnection of supply and removal of the meter from its current location. Download the Service Removal Registration Forms from here: Form C Form Ce and submit it at our Customer Contact Centre Offices. You should note that before removing the service you will be required to pay of all outstanding bills. In addition, before closing your billing account you will be requested to pay all addition consumption which is recorded prior to the removal of the metering devices.

In such case we advise you to apply for a meter test. Please note that there is a charge, which will be refunded if the meter is indeed found faulty. You may download a form from here and submit it at our Customer Contact Centre Offices , or you may apply for this service online.

Shifting your water meter by a short distance perpendicular to the main (requires no new connection) will not involve a charge. When the shifting of the water meter is needed at a further distance to the main, this works requires a new connection from the main and could involve extensive works. In this case a charge will apply, the charge being the equivalent to the fee of a new water service application. To apply for this service download a form from here and submit it at one of our Customer Contact Centre Offices , or apply for this service online.

If you require your electricity to be moved to a new location within the same premises you can download a shifting of meter form here and submit it at our Customer Contact Centre Offices.

For any works required in relation to the aerial lines (overhead electricity wiring) surround your premise you should download an application from here, and submit it at our Customer Contact Centre Offices. The services offered include:
a) covering an electricity aerial line with gaiter to health and safety purpose, or;
b) request to switch off electricity supply through the aerial lines for a period of time, or;
c) to divert the electricity aerial lines in order to carry out some works or repairs in a safer environment;

In addition to reducing your current electricity consumption, as well as contributing to less environmental pollution, the Utilities will remunerate you for each unit of electricity you do not consume but rather fed into the grid.

If you have installed a micro wind turbine or a photovoltaic unit on your premises, you may now connect them to the national electricity grid and feed excess power into the grid. This requires a change in your metering devices such that we measure the units of electricity generated at your end and fed to the grid. These units will be debited from your bill. We may be required to install a second meter close to your Renewal Energy Source (RES) device for Malta Resource Authority statistical purposes. For this service please download an application form here and submit it at our Customer Contact Centre Offices.

When selling a property you must make sure that you fill in the following form and submit it to our Customer Contact Centre Offices , together with payment for outstanding bills. Both yourself and the person purchasing the property will have to agree on the transfer of the electricity and or water account.

When buying a property you must make sure that the person selling you the property has filled in the following form and submit it to our Customer Contact Centre Offices , together with payment for outstanding bills. Both you and the person selling the property will have to agree on the transfer of the electricity and/ or water account. When moving into a new property it is important to ensure that you transfer your number of persons subsidy from your previous to your new residence.

No, the registration on the desired account cannot be automatic. You will need to fill in this form , and submit to our Customer Contact Centre Offices.

You should download the following form here, fill it in and bring it to our Customer Contact Centre Offices.

It is important that the number of persons living in your premises is correctly registered on your billing account. This information is displayed at the right-hand top corner of your electricity & water bill. This information will have an impact on the billing rates as different rates are applied depending on the number of persons living in a premise. It is important to note that according to current Electricity Supply Regulations, the same person can only move his registration from one premise to another once a year. Any further change will only be formally registered the following year. Also, if the change is done after the 30th of November in one year, it will only take effect on the following year.
Any further change will only be formally registered the following year. Also, if the change is done after the 30th of November in one year, it will only take effect on the following year. Download the application form here and submit it at one of our Customer Contact Centre Offices.

Yes, it is possible. You can apply here and have your consumption read each year. Please note that you will still receive regular bills for meter rent charges. You may also apply for this service online. By declaring that your premise is unoccupied, you accept that nobody is using this property regularly, so that any number of persons registered with the premise will be ignored for any billing charges during the declared period.

Yes, this is possible. In addition, you will be taking advantage of our early payment discounts through the convenient service of a direct debit. You can download a direct debit mandate form from here, or by visiting our Customer Contact Centre Offices.

You may amend your personal details such as your service addresses, billing address, telephones, and e-mails. You can do this by downloading a form here and submit it at our Customer Contact Centre Offices. Some details can also be updated online

We recommend that you verify pending dues on a property if you intend to purchase the property. You may do this by downloading a form from here and submit it at one of our Customer Contact Centre Offices.

You may set an appointment with our meter reading department to have your electricity and or water meter read and, if necessary, have your bill revised. To do so, please contact our Call Centre offices on free phone 8007 2222 or drop us an email on [email protected] , alternativley submit a request online.

My Utilities

If you are benefiting from FIT tariffs you will not receive bimonthly estimate bills. You will be receiving a bill every six months based on actual readings, and eventually an actual bill every two months once your locality has been converted to automatic smart meter billing. FIT only apply on actual readings, and will not apply for a bill which is issued as an estimate due to the unavailability of actual readings. Exported and Generated readings are NEVER estimated.

If you have photovoltaic equipment it is very important that ARMS has your actual readings at least every six months. Therefore, it is advisable that you provide access to our meter reader. If this is not possible, you can send us your readings through e-mail at [email protected] or call our free phone on 8007 2222. It is important that you do so within 5 days of receiving a note that the meter reader visited your premises.

If your actual readings are not available we will issue a bill in which we will only estimate your import consumption. You will not receive any form of FIT remuneration within this bill. It is your responsibility to make sure that your actual readings are made available to ARMS every six months, either by providing access to our meter reader, or by providing all the necessary details to us through e-mail at [email protected] (refer to FAQ > My Utilities >.4 “I have photovoltaic equipment and I want to submit my readings through e-mail. Is this possible?”), or submit these on our Freephone 8007 2222 within the stipulated time window of 5 working days from when the ‘meter reader NOT AT HOME note”.
The above does not ap ply for customer on automated billing.

If you are sending an e-mail make sure to include the following:

• Your surname and name;
• Your account number;
• Your telephone/ mobile number where we may easily contact you during office hours,
• And the following:

1. Reading from your Generation Meter;

2. Export Reading from your Main Meter;

3. Import Reading from your Main Meter;

4. Reading from your Water Meter

All the electricity meters MUST be official meters installed by Enemalta PLC (NOT installed by your PV supplier) and we strongly suggest you quote the meter number next to each reading.

Not necessarily. You will receive your FIT remuneration the next time we issue you a bill based on actual readings. Nevertheless, it is important to note that you are allowed to benefit up to a maximum threshold per year, such threshold is calculated as kWp of PV modules approved by the REWS multiplied by 1600kWh. Actual units read will be considered to have been consumed between the previous meter visit and the present meter visit, and this may result in a number of units exceeding your threshold, calculated pro-rata for this period, and therefore remunerated at the marginal rate.

You will receive your first FIT bill within 6 months of having an official meter (smart meter) installed on your photovoltaic equipment provided that you either provide access to our meter reader, or that you submit your readings to us during the stipulated meter reading period. For more information on how to provide us with your readings.

1. An electricity supply officially installed by Enemalta PLC, together with a billing account. The billing account is created once the application for a New Electricity Service is accepted by ARMS Ltd;

2. A PV system installed at your premises which is authorised/ licensed by the REWS. For such authorisation visit www.rews.org.mt, download a feed-in tariff form and submit it to REWS together with all required documentation;

3. The application form ‘Connecting a Photovoltaic to the Grid’ (Form PV) is submitted together with all required documentation (including the form previously endorsed by REWS ) at ARMS and approved;

4. A second meter (smart meter) is installed at your premises by Enemalta PLC personnel. This meter will register the amount of electricity being generated by your PV equipment. Only after this meter is installed and configured will FIT apply;

5. Your main meter (which was already installed at your premises prior to the PV equipment being installed) is updated to register both (a) electricity being consumed from the Enemalta PLC grid and (b) excess electricity being generated by your PV equipment which is being supplied to the grid.

Apart from the Feed-in Tariff, you may also be eligible for a capital grant. Calls for applications for capital grants are advertised in the press and are accepted during a defined time frame. Although schemes were launched on an annual basis throughout the past years, the issue of grant schemes depends on the availability of funds and is not guaranteed for the future. Further information on equipment that would be eligible and any open schemes may be obtained from REWS.

Yes, as long as there are the prerequisites for the service are met.

The duration of the FIT period depends on the applicable scheme. Details of each scheme may be viewed here REWS

After this period expires you will continue to be paid at the marginal tariff applicable at that time.

Yes. The period commences from the date of installation of the official Enemalta PLC generation meter to your photovoltaic system and it cannot be reset for any reason. You should make sure that all the information related to the photovoltaic equipment is provided to you by the seller prior to purchasing the property.

Details of each scheme may be viewed here REWS

In addition, there are 3 types of FIT schemes:

1. Net metering, where you are refunded for each unit exported;

2. Partial FIT, where you sell the surplus electricity you have generated and not utilised on site;

3. Full FIT, where you sell all the electricity you have generated.

You will be remunerated with FIT within a specified threshold, such a threshold having been communicated to you by REWS following acceptance of your application for your photovoltaic system. Units which are to be remunerated beyond this threshold are done at a marginal rate.

It is probable that the grant provided to you for your photovoltaic system was more than 50% of the cost of the equipment purchased, such that the FIT payable decreases by €0.002 per kWh for every 1% exceeding the aforementioned 50%. You must consult Malta Resources Authority for further information or clarification. If this is not the case then you may have exceeded your yearly threshold limit and is being remunerated at the marginal rate.

Yes, you can and can benefit from both FIT options.

The total annual remuneration is capped to a maximum determined by the kWp of your PV array multiplied by 1600kWh. This threshold will depend on the number of panels installed, and has been specified by REWS in a letter sent to you following your application to have PV equipment installed at your premises. If this threshold is exceeded during a particular year, the additional units generated are remunerated at the marginal rate..

Any credit balance will be carried forward and will remain on your account. You may choose to set up a direct credit scheme with the bank of your choice by providing us with the IBAN or you may contact us and have us transfer it to another account where you are also the registered consumer. ARMS will pay a credit balance accumulated after 4 consecutive billing periods provided that there are no pending dues on any of your accounts. To receive this credit balance you will have to submit a written request, either in letter and posted to ARMS P.O.Box 63, Marsa MRS 1000, Malta; or in e-mail sent to [email protected] It is important to specify your account details, name and surname in your correspondence.

You will need to inform REWS in writing and you will need to submit evidence of the transfer of ownership and details of the new owner to REWS and provide ARMS with an official document from REWS clearly approving the change of ownership of the previously registered PV system. This document must be attached to an ARMS Change of Consumer Form (Form F) for the premises being bought/sold.

Firstly you will need to submit a Removal application for the PV meter at ARMS. Secondly, on removal of the meter a Change of Consumer Form (Form F) for the premises you are vacating must be duly submitted to ARMS Ltd. You also need to inform the REWS that you will be decommissioning the PV system and notify or submit an authorization for the installation in the new premises. You will need to apply to connect to grid again once the PV system is ready and you have the necessary documents from the REWS in hand.

Yes, this is possible. If you wish to install a photovoltaic on the roof/ground which is not your property, you should first apply for a supply connection. The RES installation is then connected directly to the grid, subject to the applicant obtaining the necessary authorization and subsequently license from REWS. Given that you will not have any consumption in the said premises, and given the derogation from the requirement of Article 33 of Directive 2009/72/EC concerning the opening of the supply market, presently you cannot legally sell electricity to final consumers except Enemalta PLC. Therefore, the electricity you generate (through your PV) installation would have to be exported all at the applicable Feed-In Tariff.

There could be the case where the owner of the premises wants to install a RES generator on his own roof/ground while leasing part of the said roof/ground to a third party who also wishes to install a RES generator. In this case the owner (present account holder and consumer of electricity) would still have the two options (i.e. sell all or consume first and sell the surplus) while the third party who does not have any consumption in the premises would only have the option to export at the FIT rate applicable.

Others

There are instances where a bill is issued with different routes for water or electricity.

If the meter is registering the same reading kindly contact our offices on 80072222 or send an email on [email protected]

When meters are being read by the automatic system, this may vary since readings are being read separately for both utilities.

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MFSA – Malta Financial Services Authority – Управление Финансовых услуг Мальты

Управление Финансовых услуг Мальты (Malta Financial Services Authority – MFSA) является единственным регулятором для финансовых услуг на Мальте. MFSA было основано на основании закона от 23 июля 2002 года, получив контролирующие функций, которые ранее делегировались Центральному банку Мальты, Мальтийской фондовой биржей и Центром финансовых услуг Мальты. Орган MFSA – полностью автономное государственное учреждение, и предоставляет отчеты мальтийскому парламенту на ежегодной основе.

MFSA контролирует сектор финансовых услуг, который включает в себя всю финансовую деятельность кредитных организаций, организаций, которые предоставляют финансовые услуги, рынка ценных бумаг, инвестиционных компаний, страховых компаний, пенсионных фондов и а также частных лиц, ведущих финансовую деятельность. Кроме того, MFSA управляет Реестром компаний Мальты, а также занимается листингом компаний.

Организационная структура MFSA гарантирует, что нормативные и оперативные функции органа осуществляются в рамках строгих правовых разграничений. Совет управляющих MFSA, под председательством Председателя, определяет политику и общее направление деятельности, при соответствии правовых и международных стандартов.

Директор MFSA также является секретарем Совета управляющих. Наблюдательный совет, который возглавляет Генеральный директор, несет полную ответственность за выдачу и отзыв лицензий, надзор и регулирование компаний, и состоит из директоров, ответственных за авторизацию компаний, банковский надзор, непосредственное проведение надзора, надзор за рынком ценных бумаг, надзор страхования и пенсионного обеспечения, а также развитие нормативного регулирования.

За организацию операций несет ответственность Совет по вопросам управления и ресурсов, состоящий из директоров, отвечающих за связи, развитие людских ресурсов, информационных технологий и управления под председательством начальника Главного управления. Координация между этими тремя органами обеспечивается на уровне Комитета координации.

MFSA также отвечает за просвещение и защиту прав потребителей в сфере финансовых услуг. Данная ответсвенность возложена на менеджера по жалобам потребителей.

Мальта — юрисдикция, которая соответствует и способствует развитию современной международной практики и активно сотрудничает со многими международными организациями, такими как:

  • OECD — Организация экономического сотрудничества и развития, ОЭСР;
  • EBA —Европейская банковская организация;
  • EIOPA— Европейская организация страхования и пенсионного обеспечения;
  • ESMA Authority — Европейская организация по ценным бумагам и рынкам;
  • IOSCO — Международная организация комиссий по ценным бумагам;
  • МАСН — Международная ассоциация страховых надзоров.

MFSA является подписантом Многостороннего меморандума о взаимопонимании с другими членами этих учреждений.

MFSA имеет штат из более чем 230 сотрудников, состоящий из специалистов регуляторных органов, юристов, бухгалтеров и вспомогательного персонала содействия разработке политики, принятия решений и поддержки для обеих сторон: тех, кто получает лицензии и потребителей.

Мальта активно развивается как международный финансовый центр, что подтверждается широким спектром доступных финансовых услуг. Правительство Мальты высоко оценивает работу регулятора в финансовом секторе.

В Глобальном индексе конкурентоспособности Всемирного экономического форума в 2020 Мальта находится в Топ-20 лучших финансовых юрисдикций. Мальтийская отрасль финансовых услуг является диверсифицированной и имеет большие перспективы. Причем, он успешно работает как на местном уровне, так и на европейском уровне, а также готова достичь значительных позиций на глобальном уровне. Регулятор MFSA верит в развитие динамической структуры, которая позволяет промышленности в разработке новых продуктов и услуг в рамках прочной нормативно-правовой среды в соответствии с международными стандартами. Содействие постоянному обмену идеями и информацией между регуляторными процессами развития и инновационной продукции является ключом к этой цели.

Основные функции, которые выполняет MFSA:

  • Регулировать и контролировать поведение отрасли финансовых услуг на Мальте.
  • Помощь в защите интересов потребителей и инвесторов.
  • Поддерживать самые высокие стандарты поведения в индустрии финансовых услуг.
  • Обеспечить регулярную информацию о локальных и глобальных событий, затрагивающих финансовой отрасли.
  • Поощрение и поддержка инициатив по повышению уровня образования и подготовки кадров в индустрии финансовых услуг Мальты.
  • Проведение экспертиз до выдачи лицензий для компаний, участвующих в банковской сфере, инвестициях, страховании, пенсионном обеспечение и фондовом брокерстве.
  • Проводить регулярные и соответствующие проверки лицензированных финансовых услуг.
  • Публиковать административные указания и директивы для индустрии финансовых услуг и профессиональных консультантов к нему.
  • Консультировать и помогать компаниям.
  • Поддержка связи с национальными, международными и наднациональными организациями, участвующими в борьбе с финансовыми преступлениями.
  • Общаться и консультировать национальные и международные средства массовой информации для того, чтобы продемонстрировать приверженность Мальты к лучшей мировой практике и повысить свою международную репутацию.
  • Предложить улучшение существующего законодательства или создание нового законодательства.
  • Управление реестра компаний Мальты.

На своем официальном сайте MFSA регулярно публикует предупреждения, о деятельности различных компаний, причем как мальтийских, так и международных, если были зафиксированы нарушения или мошенничество.

Для того чтобы получить лицензию MFSA, компания должна соответствовать строгим требованиями:

  • Идеальная репутация на рынке;
  • Опыт с работой европейских регуляторов;
  • Положительные результаты деятельности;
  • Отсутствие значительных жалоб от клиетов;
  • Компетентный персонал профессионалов.

Кроме того, лицензия MFSA обойдется брокерской компании 730 000 евро. Таким образом, далеко не каждая брокерская компания сможет подойти под требования регулятора Мальты MFSA, что дает лицензии и регулированию MFSA большую значимость.

Брокерские компании которые имеют регуляцию MFSA вы сможете найти в нашем рейтинге брокеров.

Детальная информация о регуляторе Мальты вы сможете найти на официальном сайте MFSA.

Malta Extends Scope of Proposed Virtual Currency Regulations

The Malta Financial Services Authority (MFSA) has published a ”feedback statement” regarding its proposal for regulatory guidelines governing collective investment schemes involving virtual currencies (VCs) operating in the European archipelago nation. The statement has been issued following a consultation period from the 23rd of October 2020 to the 17th of November – in which the MFSA sought to gain feedback from Malta’s citizenry and private sector regarding the proposed regulations.

Malta Provides Greater Clarity Regarding Proposed Cryptocurrency Regulations

The MFSA, Malta’s financial regulator, has published a “feedback statement”, following consultation regarding “proposed regulation[s]” for “collective investment schemes investing in virtual currencies.” Malta’s regulator states that “The main proposals introduced” sought to safeguard “the interest[s] of investors and the integrity of the financial market in the context of virtual currencies.”

The Malta Financial Services Authority

A number of respondents enquired as to whether collective investment schemes with a “limited exposure” to cryptocurrency instruments will be subject to the same regulatory requirements as collective investment schemes which invest solely in VCs.” The MFSA confirmed that all collective investment schemes that invest in virtual currencies will become subject to the full regulatory apparatus pertaining to virtual currencies, regardless of the scale of exposure.

The regulator also clarified that both “direct and “indirect’ investment into virtual currencies will require total adherence to the proposed regulations – with the MFSA defining indirect investment as occurring “through trading companies/special purpose vehicles.” The MFSA added that “Any other indirect investment including inter alia investment in units of a collective investment scheme which itself invests in VCs, shall be understood as falling outside the scope of the regulatory framework.”

Malta Publishes ‘Feedback Statement’ Regarding Proposed Cryptocurrency Regulations

The MFSA states that it has chosen to significantly extend the scope of the proposed regulations in light of the feedback it has received. The regulator states that it is now “inclined to extend the scope to further encompass [Alternative Investment Funds (AIFs)] and Notified AIFs,” in addition emphasizing that it had “updated the Consultation Document’s definition of VCs in order to further encompass tokens offered through ICOs.” The authority has also “established that limited partnerships and unit trust structures” provide adequate “governance oversights safeguards”, prompting the MSFA to “extend the regime to limited partnerships and unit trusts.”

The authority also sought to emphasize that “a classification between ‘trading’ and ‘infrastructure’ funds is not required,” stating that “Collective investment schemes investing in the underlying technologies of VCs would fall under the traditional definition of private equity funds.”

The feedback statement also mentioned that “the proposed regime” will be “available only to Qualifying Investors” – addressing criticisms that such “will significantly restrict investments in VCs.” The regulator also stated that it is still “considering whether credit and financial institutions should be allowed to deal in VCs, […] solely on behalf of their clients.”

Virtual Currency Technology Competence Requirements

The MFSA received considerable feedback regarding its specification “the service providers of a [Professional Investment Fund (PIF)]” must possess “sufficient knowledge and experience in the of Information Technology, [virtual currencies,] and their underlying technologies, including but not limited to [Distributed Ledger Technology]”. Emphasis was also placed on whether or not such requirements should be applicable “to the roles of Compliance Officer, Money Laundering Reporting Officer (MLRO) [,] and the auditor of a PIF investing in VCs” – with one respondent “arguing that their respective obligations are not correlated to the underlying assets of a scheme.”

Whilst the MFSA reaffirmed to need for technological competence pertaining to the assets managed by a collective investment scheme – including with regard to positions such as Compliance Officer or MLRO – the authority stated its intention to “adopt a holistic approach” when assessing such, “rather than base [said] determination on a particular metric.”

The MSFA added that “Interested applicants are required to attend a pre-application meeting with the Authority for initial feedback and guidance on the competence of the proposed parties forming the PIF’s structure and set-up.”

Security Requirements

The MFSA also gave further elaboration regarding the “safekeeping and custody” requirements for collective investment schemes with cryptocurrency exposure. The document states that “As a minimum, a PIF investing in VCs should opt for a combination of cold and hot storage. With regard to cold storage, such PIF is expected to use a multi-signature wallet whereby the input of two out of two signatories would be required in order to access the wallet and transact in VCs. The investment manager […] is expected to be the first signatory and the custodian the second signatory.”

Numerous respondents requested “further guidance in relation to the risk spreading requirement” presented in the proposed regulations. One respondent is reported to have argued that “in view of the limited number of VCs currently in circulation […] the respective requirement should be removed.” The MFSA has acted on the recommendation, stating that “conformity with the principle of risk spreading shall […] remain optional for PIFs investing in VCs.”

Lastly, the Malta’s financial regulator has “proposed a Financial Instrument Test to determine under which circumstances a VC would be classified as a financial instrument, in accordance with the general principles of a policy statement issued by the European Securities and Market Authority.”

What are your thoughts regarding the MFSA’s feedback statement on its proposed regulatory guidelines for collective investment schemes that are invested in virtual currencies? Share your thoughts in the comments section below!

Images courtesy of Shutterstock, https://www.mfsa.com.mt

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