Estonia’s privately-owned energy group, Utilitas, posted sales revenue of EUR 255.9mn in 2022, which was up from EUR 159.9mn in 2021, ERR reports. Production and sale of heat and electricity accounted for 94% of total revenue. The rest came from renewable energy subsidies and other sales. Utilitas produced 2.2 TWh of heat and electricity in 2022, which was 4.5% less than a year earlier. The group’s annual net profit rose by 41% to EUR 39.9mn in 2022. Utilitas invested EUR 77mn, which was EUR 100mn less than in 2021. The group employed an average of 279 people in 2022.