Eesti Energia Demands Nine Million Euros from Elering

Taavi Veskimägi, Elering's chairman Photo: Postimees/Scanpix
3/5/2014 12:15 PM
Category: Economy

The state-owned energy giant Eesti Energia claims false data presented by another state-owned electricity company in connection with the opening of the common Baltic electricity market led to unforeseen expenses, and demands nine million euros from the company, uudised.err.ee reported today.

The opening of the common electricity market in the three Baltic states on June 3 last year brought a 13 million loss to Eesti Energia in border crossing expenses, although overall, the opening of the market brought a net profit of 160 million euros.

Eesti Energia blames the majority of the loss on Elering, a similarly state-owned electricity transmission system operator, who failed to meet its responsibilities. Eesti Energia demands that Elering covered nine million euros of the loss, Postimees reported today.

According to Eesti Energia, Elering provided the Estonian Competition Authority with false data about the work load of the transmission capacity between Estonia and Latvia, causing the authority give its permission to open the common market on false premises and without implementing risk-managing financial instruments.

Elering has said the claim is unfounded and the company’s spokesperson said its activity is in accordance with EU regulations.

 


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