The Estonian government has decided not to privatise four state-owned energy, real estate, digital services, and lottery firms, ERR reports. The decision applies to four state-owned enterprises controlled by the Ministry of Finance: energy group Eesti Energia, state real estate manager Riigi Kinnisvara Aktsiaselts (RKAS), digital services company Levira, and lottery operator Eesti Loto. The…
French risk management company Coface’s ranking of the 50 largest companies by turnover in the Baltic States in 2024 includes 28 companies in Lithuania, 15 in Estonia, and 7 in Latvia, LETA reports. The top five companies are all from Lithuania: retail holding group Vilniaus Prekyba with a consolidated turnover of EUR 8.02bn in 2024,…
Estonia’s state-owned energy group, Eesti Energia, will merge all of its electricity business into its fully-owned subsidiary, Enefit, as of 2026, ERR reports. The group will merge its Enefit entities in Latvia, Lithuania, and Poland as well. The new Enefit will serve more than 560,000 retail customers in four countries. Eesti Energia says that the…
Breaking up Estonia’s state-owned energy group, Eesti Energia, would not improve energy security, Finance Minister Jürgen Ligi stated, ERR reports. Speaking in an interview with Vikerraadio, Ligi insisted that Eesti Energia provided an essential service for society. He said that building a new gas power plant in Narva was a “good idea,” but stressed the…
The Estonian government may allocate EUR 100mn to state-owned energy company Eesti Energia to speed up the construction of a new gas power plant in Narva, ERR reports. Also, the government is discussing the possible differentiation of renewable energy fees for companies and reducing network tariffs or changing electricity taxes for private consumers. The moves…
The Estonian government plans to split the state-owned energy group, Eesti Energia, into three separate companies, Finance Minister Mart Võrklaev announced, ERR reports. He said that the plan was to list shares of network operator Elektrilevi and renewable energy producer Enefit Green on the stock exchange. However, Võrklaev said that he was no longer in…
Estonia’s state-owned energy group, Eesti Energia, reported sales revenue of EUR 416.1mn in the second quarter of 2023, which was almost unchanged from EUR 416.6mn a year earlier. Revenue outside Estonia accounted for 63% of total sales. The group’s quarterly adjusted EBITDA stood at EUR 115.7mn (up 45.0%) and adjusted net profit at EUR 50.6mn…
Estonia’s Ministry of Climate has proposed ending universal electricity service contracts automatically, ERR reports. Under the proposal, customers with universal service would be switched automatically to state-owned energy group Eesti Energia’s general service if the average market price of electricity remains below the universal service price for three consecutive months. Eesti Energia’s general service would…
Estonia’s state-owned energy group, Eesti Energia, produced a record 252,461 tonnes of shale oil in the first half of 2023, which was up 20% from the same period of 2022, ERR reports. The company has three shale oil plants and is building a fourth one. Eesti Energia expects its annual shale oil production to reach…