Minister proposes cutting grid distributor Elering dividend payouts
Minister of Economic Affairs and Infrastructure Taavi Aas (Center) has proposed cutting grid distributor Elering's shareholder dividends for the past financial year, and then waiving them altogether over the following two years, amid soaring energy prices.
"Right now, every opportunity must be taken to keep electricity bills as low as is possible," Aas said, noting that the recent record prices and continuing high levels will affect private and business customers in Estonia alike.
"The rise in electricity prices affects all Estonian residents and companies, which makes it reasonable to reduce and then later eliminate the state's dividend expectations for the state energy company for some time now," he went on.
"The inflation will also raise Elering's expenses ... and scrapping the dividend would help cover these costs a bit," Aas added, via a ministry press release.
According to Aasa's proposal, Elering would pay out €10 million in dividends for the past year, instead of the €24 million, with no dividends at all for 2022 and 2023.
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Editor: Andrew Whyte