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Eesti Energia Subsidiary, Enefit Power, Wins Tender for Reserve Capability

Written by Customer Service on . Posted in Public Companies.

Elering AS (Estonias national Transmission System Operator) has completed the public procurement for ensuring the electricity reserve capability of the Estonian electricity system. The winner of the tender is Enefit Power OÜ, a subsidiary of Eesti Energia Group. The service, which ensures up to 1,036 megawatts of generation capacity, will cost a maximum of EUR 59.5 million per year (excluding VAT). Pursuant to the Electricity Market Act, the cost of ensuring reserve capacity capability will be borne by electricity consumers. Until now, the company has had to cover this cost out of its own pocket.

The contract is planned to be signed by the end of November.

The service price is cost-based, and Enefit Power’s activities will be audited according to a specific methodology. Elering will reimburse only the costs directly related to the provision of the service. Enefit Power is also entitled to participate in other energy markets with the same capacities. If revenues from other markets exceed the assumptions of the tender, the amount payable for the reserve capacity service will be reduced accordingly

Further Information:

Danel Freiberg
Head of Treasury and Financial Risk Management
Eesti Energia AS
Tel: +372 5594 3838
Email: danel.freiberg@energia.ee

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