Eesti Energia enters to the Finnish and Swedish electricity markets


Eesti Energia has received approval from its council and owner to extend its retail sales business to the Finnish and Swedish markets. At the moment, Eesti Energia is operating as energy seller in Estonia, Latvia, Lithuania and Poland.

By words of the chairman of the board of Eesti Energia Hando Sutter, common Nordic and Baltic energy market will provide an option to be on-site in Finland as well as in Sweden, like energy enterprises of our neighbours are operating in Estonia already for some time. „Next to our home market Estonia, the new foreign markets will enable to us to grow in business and to earn more income to the Estonian state. All Estonians will benefit from our success at foreign markets. Entry to the Finnish and Swedish electricity markets is a part of strategical objective of Eesti Energia to grow from the mere Baltic electricity seller to energy seller and provider of energy services of the whole Baltic Sea. By Sweden and Finland it is dealt with close countries where readiness to change power sellers is higher than average in Europe. Electricity market of these countries is open to new entrants and our digital solutions provide the necessary competitive advantage there,” mentions Sutter.

By his words, Eesti Energia is distinguished from other energy sellers also by the circumstance that the enterprise itself is the producer of energy. „We are the biggest energy producer in the Baltics and one of the biggest producers of renewable energy. By the year 2020, we plan to grow the volume of renewable and alternative energy for up to 40 per cent in our production portfolio. In addition to oil shale, we produce energy also from wind, biomass, water and waste.“

As representative of the state as the sole shareholder of Eesti Energia, Minister of Finance Toomas Tõniste granted his consent to establish subsidiary companies that will operate at the Finnish and Swedish markets. „Eesti Energia is operating as energy seller, in addition to its home country, also in the Baltics and in Poland and as the energy markets of our region are ever more tightly connected to each other, then also entry to the Finnish and Swedish markets is a logical step ahead,” said the minister.

Eesti Energia has launched necessary processes in order to start business activities in Finland and in Sweden. It is planned to start the retail sale of electricity to private customers in both countries in the first half of 2018, in Sweden the services will be provided also to the business clients. Establishing of subsidiary enterprises has been initiated in both countries and local managers have been recruited. The head of the Finnish subsidiary enterprise will become Ville Pentti, who has worked earlier in different managing positions in Turku Energia. The Swedish subsidiary will be led by former sales director of Telge Energi - Jonas Lindelöf. „Both Ville Pentti and Jonas Lindelöf know thoroughly the energy business of their countries and under their leadership we will be able to launch our business successfully in Finland as well as in Sweden,” added Sutter. Sales of electricity will take place mainly in cost-effective online channels.

The subsidiary companies of Eesti Energia have operated successfully both in Latvia and Lithuania for more than 10 years by selling electricity to the business clients and after opening of the Latvian gas market this year, Latvian subsidiary of Eesti Energia rose the second gas seller of the country. Starting from June, the subsidiary company of Eesti Energia is selling electricity and gas to business clients also in Poland.

Eesti Energia is an energy group that consists of more than 20 companies and employs about 5,800 people. Eesti Energia is the biggest energy producer in the Baltics, and it is also one of the biggest producers of renewable energy. The company produces energy from oil shale, wind, biomass and mixed municipal waste. Besides Estonia, Eesti Energia is also active in Latvia, Lithuania, Poland, Germany, Jordan, the USA and now also in Finland and Sweden. The Eesti Energia group offers technological solutions and maintenance services to industrial companies. Elektrilevi, the biggest distribution system operator in Estonia, also belongs to the Eesti Energia group.

Kaarel Kuusk
Media Relations Manager
Теl: 5285049
[email protected]