Energy, Energy Market, Estonia, Financial Services

Utilitas Tallinna Elektrijaam, an 85% holding in which was sold by businessman Kristjan Rahu to the EDIF II infrastructure fund managed by the Australian investment company First State in November 2018, was paid approximately 1.6 mln euros under the two items by Elering.

Fortum Eesti and Anne Soojus, Estonian holdings of Fortum Power and Heat OY energy group of Finland received altogether over 1.3 mln euros during the month. Fortum told the stock exchange at the end of June that it is considering selling its Estonian businesses.

Enefit Green was paid roughly 45,000 euros and its subsidiary Enefit Wind over one mln euros in renewable energy support.

The combined heat and power (CHP) generating companies Imavere Energia, Helme Energia and Osula Energia of the Graanul Invest group received altogether some 799,000 euros in renewable energy support in July.

Over the course of the first seven months of the year, Elering paid out altogether 51.1 mln euros in renewable energy subsidy.

During 2018, Elering paid out 78.5 mln euros in renewable energy support and 3.5 mln euros in high-efficiency cogeneration support, of which a third was received by renewable energy companies of Eesti Energia.

When administering renewable energy subsidies, Elering acts as a paying agency, collecting renewable energy fees from consumers through network companies and paying this as subsidy to electricity plants producing electricity from renewable sources.

Last year, renewable energy charge was paid 0.89 cents per kilowatt-hour, but this year, the fee rose to the same level as in 2017, 17% to 1.04 cents per kilowatt-hour.

Renewable energy support and high-efficiency cogeneration support are deemed state aid.