Andri Avila: Carving up Eesti Energia to be expensive
Former Eesti Energia CFO Andri Avila said that while separating DSO Elektrilevi and oil shale mining from national energy giant Eesti Energia is doable in a matter of a few years, it would prove expensive.
"Everything can be done with enough motivation and money. But the process will not be cheap," Avila said. "While talk of separating Elektrilevi from Eesti Energia has been around for a long time, the mining part is new.
He added that the separation will take time. "I don't think it's possible in two years. Perhaps three, if enough resources are expended," Avila said. He suggested that it is difficult to say how the separation could be carried out.
"The main question is what kind of an Eesti Energia we will be left with and how to fund those remaining activities. I see no good options at this time, while it is sure to be expensive. How expensive will depend on the path of restructuring that will be chosen."
Avila also said he does not understand the goal of separating Elektrilevi and oil shale mining from EE.
In addition to separating Estonia's distribution system operator Elektrilevi from energy group Eesti Energia, the new government also plans to detach oil shale mining from the company and create a separate firm to ensure equal access to oil shale resources for all market participants.
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Editor: Marcus Turovski
