Estonia, Legislation, Markets and Companies

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Riigikogu economy committee approves bill of keeping monopolies under control in Estonia

Juhan Tere, BC, Tallinn, 19.02.2010.Print version
The economy committee of the Estonian Riigikogu decided at its Thursday session to send the draft law of keeping monopolies under control to the parliament’s readings, LETA/Äripäev.ee reports. Amendment proposals for the bill can be submitted till March 23.

MP Ken-Marti Vaher said that low protection of rights of consumers and disregard towards competition rights has led to a situation where the yield of invested assets of Tallinn’s leading water company is 18.3% while accordion to general European practices he justified profit level is 7-8%.

 

The bill aims to change the laws of central heating, public waterworks and sewage and punitive code so that price development of companies that offer a universal service and govern the market guarantees better protection of consumers.

 

The law amendments prescribe justified profitability rates to be coordinated for water, gas, electricity and central heating producers and gives the Competition Board the right to inspect activities of central heating firms and about 60 water companies and if need be interfere in their price development.






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