The average annual price of electricity in Estonia stood at EUR 87.27 per MWh in 2024, which was down from EUR 90.79 per MWh in 2023, according to data from the Nord Pool electricity exchange, ERR reports. The highest average price was in January 2024 (EUR 126.5 per MWh) and the lowest in April 2024…
Estonian President Alar Karis has rejected an amendment to the law on the use of natural resources, ERR reports. The legislative changes would suspend oil shale mining permits until 2026, allowing time to assess the industry’s compliance with EU climate goals. The president argued that the amendment ran counter to the Constitution and imposed disproportionate…
Latvia and Lithuania refused to accept a new package of EU sanctions against Russia that would have allowed companies to continue doing business in Russia, BNS reports. Three unnamed EU diplomats told Politico that Latvia and Lithuania blocked a clause that included exceptions allowing EU companies to continue importing and exporting sanctioned goods. The clause…
The Estonian company, Tiigi Keskus, has acquired the state-owned rail freight operator, Operail, at a privatisation auction for EUR 19mn, ERR reports. Richard Tomingas, board member of Tiigi Keskus, said that Operail would continue providing rail services, particularly container transportation, in Estonia and expand its operations later if possible. Following the deal, the Estonian state…
The passenger train operators of the three Baltic states will begin coordinating their timetables to enable a smooth connection between the Baltic capitals, LSM reports. Estonia’s Elron, Latvia’s Vivi, and Lithuania’s LTG Link plan to align the timetables as of 6 January 2025. Transfer times at Valga and Riga will be around 10-20 minutes. The…
The Latvian government has failed to pay nearly EUR 1mn to the Baltic joint venture, RB Rail, which coordinates the development of the Rail Baltica railway project, LSM reports. A member of RB Rail’s board told TV24 that the company’s staff were currently being paid from Estonian and Lithuanian money. The three Baltic States have…
Estonia’s Minister of Regional Affairs and Agriculture, Piret Hartman, has proposed privatising part of the state-owned postal services provider, Eesti Post, ERR reports. She said that the earliest date for a possible IPO could be in 2027. The state would nevertheless retain majority ownership of the company, the minister assured. Eesti Post needs additional capital…
Lithuania’s state-owned company, KN Energies, has acquired the LNG carrier, Independence, from Norway’s Höegh Evi (former Höegh LNG) for EUR 138mn, BNS reports. The handover ceremony was attended by the presidents of all three Baltic States and Poland. The floating storage regasification unit (FSRU), which serves as Lithuania’s LNG terminal, arrived at the port of…
The Latvian parliament, the Saeima, has passed in final reading a new tax on local credit institutions, LETA reports. Under the new law, credit institutions registered in Latvia and branches of foreign credit institutions will have to make quarterly solidarity contributions for the next three years. The tax will amount to 60% of their excess…
