Energy, Energy Market, Estonia

Taavi Veskimagi, CEO of Elering, said that such a form of cooperation is necessary in order for Elering to have more opportunities to balance the Estonian electricity system and for consumers using smart energy consumption to be able to earn money on the electricity market and thereby reduce their energy costs. "The agreement will give Elering additional opportunities to ensure the security of supply of the Estonian electricity system especially in a situation where a generating unit turns off suddenly and generating is not being carried out in the planned amount," Veskimagi said.

Tarvo Ong, CEO of Energia Juhtimiskeskus OU, said that their company brings together several dozen large-scale consumers by now and has analyzed hundreds of businesses across Estonia. "Smart energy consumption management is used by businesses from cold stores and hotels to farms and industrial enterprises. In reality, all consumers can participate whose production process or consumption allows for its temporary flexibility or switching to alternative sources," Ong said. Conscious electricity consumption means a significant decrease in expenses for the business already today, the agreement with Elering among all else will also allow to earn money.

Energia Juhtimiskeskus brings together businesses who are ready and able to manage and change their energy consumption, but whose standalone volumes are not enough for Elering to offer the service of balancing their electricity system. If Estonia's electricity consumption is smaller than estimated or production is bigger during a specific hour, then Elering enables the contractor to sell or buy electricity to increase or decrease consumption.

The agreement between Elering and Energia Juhtimiskeskus regulates the conditions of data exchange, the period of trading in electricity and the rules of making an offer for energy.