Eesti Energia and Elering Post Better Than Expected Profits ({{commentsTotal}})

Business
Business

Energy giant Eesti Energia doubled its profit to 51 million euros in the first quarter compared to the same period a year ago.

That figure is even more astonishing as turnover decreased by a fifth to 226 million euros due to the warm winter. The company produced 2.4 terawatt-hours of electricity in the first three months, 23 percent less than a year ago.

The company said electricity sales were lower, but more profitable due to a strategy of minimizing risks.

Eesti Energia produced 15 percent more oil shale (62,000 tons), which made up 6 percent of turnover and 12 percent of the profit.

Another state-owned utility company, transmission system operator Elering, reported 20.8 million euros in profits in Q1, on level with results from the same period in 2013.

The company said the results were better than expected mainly due to more cross-border transfers. Turnover grew by 1.3 million to 43.8 million euros.



{{c.alias}}
{{c.createdMoment}}
{{c.body}}
{{cc.alias}}
{{cc.createdMoment}}
+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long
{{comment.captcha.word.answer}}

news.err.ee

Opinion
Independence Day: Estonia’s way into the future isn’t a race

There is a lack of connection between the Estonian state, and the people who live here. While it expects a lot of the state, Estonian society doesn’t seem ready to contribute, writes Viktor Trasberg.

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.