Eesti Energia AS and Solidus OY launch cooperation in the electricity market

Eesti Energia AS has decided to partner with the Finnish Solidus OY. The companies have entered into a contract related to the Finnish-Estonian Estlink electricity cable project. The current deal will see Solidus OY manage price risks related to Eesti Energia’s electricity sales to the Nordic market and offer it electricity market expert services. Although the electricity trade begins only after the completion of submarine cable project Estlink at the end of 2006, the cooperation between the companies will begin much sooner. Tiit Nigul, Member of the Eesti Energia Management Board, says, “The Estlink cable connects the Baltic and Nordic systems for the first time and allows us to buy and sell electricity depending on the market conditions.” “To be successful in the open market environment, we need specialised knowledge and experience. Cooperation with Solidus gives us good opportunity to facilitate electricity trade and risk management in the Nordic countries,” adds Nigul. Founded in 2005, Solidus OY is a representative of Nord Pool, managing clients’ electricity portfolios and offering consultancy and expert services in electricity market operation and risk management. Additional Information:
Iveri Marukashvili
Eesti Energia Communications Specialist
Tel.: +372 71 51 218
GSM.: + 372 53 411 813
E-mail: [email protected]