VKG Request to Lower Oil Shale Prices Rebuffed by Eesti Energia

Photo: Postimees/Scanpix
9/4/2013 1:55 PM
Category: Economy

Viru Keemia Grupp (VKG) has requested that Eesti Energia lower the price of bulk oil shale by a third, asserting that the state-owned power company's rates are excessively high.

Eesti Energia currently supplies oil shale to VKG at 31 euros per ton, nearly triple what Eesti Energia charges its own subsidiaries, reported Postimees.

The Competition Authority, which is looking into the case, said that a broader decision is needed at the legislative level to regulate oil shale resources.

Eesti Energia CEO Sandor Liive told uudised.err.ee today that the state-owned company has no obligation to sell oil shale at all.

“VKG wants to buy the resource cheaper from us than the value that we ourselves can extract from it,” Liive said, adding that they sell higher quality oil shale to VKG than to Eesti Energia power plants.


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