Oil Shale Conglomerate Subsidiary Joins Power Exchange
Viru Keemia Grupp's power generating subsidiary VKG Energia OÜ has joined Nordpool, the Nordic power exchange, to start selling electricity to corporate clients.
The October 19 decision means that VKG Energia OÜ will start providing brokerage services, providing power from Nordpool to eligible consumers within and outside VKG.
The installed capacity of VKG Energia's power plants is greater than current demand from VKG, a group of oil shale and other industrial companies.
VKG Energia OÜ operates two power pants with a capacity of 700 megawatts. The group's own electrical capacity is 80 megawatts. The company plans to raise overall production to 280 gigawatt hours in 2012.
In 2013, all Estonian consumers will have to start buying electricity on the open market - something only companies that consume more than two gigawatt hours per year are currently required to do.
Kristopher Rikken