The Estonian Competition Authority (Konkurentsiamet) has approved a takeover of Tallinn’s municipal company, Tallinna Soojus, by private energy group Utilitas, ERR reports. Following the takeover, Tallinna Soojus and Utilitas will establish a new joint venture, Utilitas Tallinna Soojus, which will become the new parent company of Tallinna Soojus. Utilitas will own 66.66% and Tallinn municipality…
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…
Data available on state financial support to Estonian companies are incomplete and thus less usable, according to an analysis by the National Audit Office (Riigikontroll), ERR reports. Märt Loite, auditor general at Riigikontroll’s analysis department, sent a note to Finance Minister Mart Võrklaev (Reform), highlighting concerns regarding the integrity and usability of the data. In…