While due for completion yesterday, the report remains under review for compliance, with feedback and potential adjustments expected before a finalized release by mid-November. Full disclosure is limited due to confidentiality.

The Ministry of Finance commissioned a special audit of Eesti Energia to identify potential violations, with the completed report not yet ready for public release.

Law firm Sorainen has been tasked with producing the audit report, due out yesterday, Thursday, per its deadline.

Ministry of Finance spokesperson Geili Heinmaa said Thursday: "Sorainen will present the special audit report on Eesti Energia to both the Ministry of Finance and Eesti Energia, on Thursday."

"In accordance with the procedure, the parties will review the material to verify that the content meets the established terms of reference. This is followed by a period for recipients to provide feedback, and if necessary, adjustments to the report will be made," Heinmaa added.

The review process will follow to ensure the content aligns with the specified terms of reference, allowing for feedback and potential adjustments, she noted.

"The final version of the report is expected to be approved by mid-November. The next steps will be decided based on the conclusions of the final report," Heinmaa said.

Eesti Energia spokesperson Mattias Kaiv stated that the company will review the report and coordinate its publication schedule with the Ministry of Finance, though full disclosure of the several-hundred-page document is not planned due to business confidentiality; the audit, initiated by former finance minister Mart Võrklaev (Reform), aims to identify potential systemic management errors and the extent of the previous management's responsibility.

The special audit examined management decisions and recommendations made during this period by the supervisory and management boards of Eesti Energia, Elektrilevi, Enefit, and Enefit Power.

Business confidentiality restricts the public release of the full report.

Andrus Durejko was in early 2023 appointed new Eesti Energia director, replacing the long-serving Hando Sutter, who had clashed politically with the Kaja Kallas-led Reform-SDE-Eesti 200 coalition.

 All bar one of Eesti Energia's management board members were replaced in spring 2023.

--

Follow ERR News on Facebook and Twitter and never miss an update!