Buy / Sell Business, Estonia, Markets and Companies

The Ministry for Economic Affairs and Communications officially carried out the transaction that was caused by the demands from the European Union that required guaranteeing the independence of the transmission grid enterprise from the production and sales operations.

The main objective of separating Elering from the Eesti Energia group was to make the electricity market more transparent and ensure equal treatment of competing enterprises, explained the Minister for Economic Affairs and Communications Juhan Parts.

“The role of Elering in the Estonian energy sector will change significantly,” he added. “In addition to guaranteeing the system’s work stability, it will now have to contribute forcefully into launching the open electricity market in co-operation with NordPool,” said Parts. He added that Elering will also have an important role in establishing new energy bridges to Finland.

The supervisory board of Eesti Energia approved in principle the decision to sell Elering OÜ to the State last September. The sales price of the shares of the enterprise was based on the evaluation compiled by PricewaterhouseCoopers.

Elering will maintain all power lines and substations of the capacity of 330-110kW.