Elering

Elering
State-owned company
Industry Electricity
Founded November 1, 1998 (1998-11-01)
Founder Eesti Energia
Headquarters Tallinn, Estonia
Area served
 Estonia
Key people
 Taavi Veskimägi (CEO)
Services Electric power transmission
Natural gas transmission
Revenue €129.23 million (2014)[1]
€40.73 million (2014)[1]
Owner Government of Estonia
Website www.elering.ee

Elering (former name: Põhivõrk) is a national transmission system operator for electricity and natural gas with headquarters in Tallinn, Estonia.

History

Elering was established on 1 November 1998 under the name of Põhivõrk as an operating unit of the Estonian national power company Eesti Energia. On 1 April 2004, it became a private limited company, OÜ Põhivõrk, as a subsidiary of Eesti Energia. On 10 June 2009, the company changed its name to Elering. To implement the EU 3rd energy package, the Government of Estonia decided on 28 August 2009 to go for an ownership unbundling and to buy out Elering from Eesti Energia.[2] The transaction was concluded on 28 January 2010.[3] On 25 February 2011, Elering was transformed to a public limited company, AS Elering.[4]

In November 2014, Elering entered to the natural gas transmission market by acquiring a majority stake in the holding company AS Võrguteenus Valdus, an owner of EG Võrguteenus (later renamed: Elering Gaas).[5] EG Võrguteenus was established in 2005 as a subsidiary of Eesti Gaas. Originally it operated both—a transmission network and a distribution network—but in 2013 the distribution network was separated from the company. In November 2013, to implement the EU 3rd energy package EG Võrguteenus was separated from Eesti Gaas.[6] In June 2015, Elering acquired the stake which was owned by Gazprom, and in September 2015, Elering acquired the stake which was owned by Itera Latvija in AS Võrguteenus Valdus shares.[7][8] In December 2015, after acquiring shares owned by minority shareholders of AS Võrguteenus Valdus Elering decided to merge Elering Gas and Võrguteenus Valdus into Elering.[9]

Electricity market

On 2 February 2010, Elering signed an agreement with Nord Pool Spot to create the Nord Pool Spot Estlink price area, starting from 1 April 2010.[10] Together with the transmission system operator of Finland, Fingrid, Elering is preparing the construction of the Estlink-2 cable between Estonia and Finland.[11]

Elering is the member of the European Network of Transmission System Operators for Electricity.[12] The managing director of Elering is Taavi Veskimägi.[13]

Natural gas market

Elering is the natural gas transmission system operator of Estonia. Together with Finnish state-owned company Baltic Connector OY, Elering is developing the undersea gas pipeline Balticconnector between Estonia and Finland.[14]

References

  1. 1 2 "100 Eesti suurimat ettevõtet" (in Estonian). Postimees.
  2. ↑ Tubalkain-Trell, Marge (2009-08-28). "Estonia to acquire power-grid operator from Eesti Energia". Baltic Business News. Retrieved 2010-02-06.
  3. ↑ Tere, Juhan (2010-01-28). "Estonian Elering officially have changed owners". The Baltic Course. Retrieved 2010-02-06.
  4. ↑ Tere, Juhan (2011-03-02). "Elering becomes a public limited company". The Baltic Course. Retrieved 2011-03-09.
  5. ↑ "Fortum sells its stake in the gas grid to Elering". The Baltic Course. 2014-11-10. Retrieved 2015-07-06.
  6. ↑ "EG Vorguteenused was separated from Eesti Gaas". The Baltic Course. 2013-11-20. Retrieved 2016-02-27.
  7. ↑ "Elering acquires Gazprom's 37% stake in Estonian gas transmission network". The Baltic Course. 2015-06-19. Retrieved 2015-07-06.
  8. ↑ "Elering bought Itera Latvija's 10% stake". The Baltic Course. 2015-09-25. Retrieved 2015-11-24.
  9. ↑ "TSO Elering signs merger with subsidiaries". The Baltic Course. 2015-12-16. Retrieved 2016-02-27.
  10. ↑ Tere, Juhan (2010-02-02). "Elering and Nord Pool Spot conclude a cooperation agreement". The Baltic Course. Retrieved 2010-02-06.
  11. ↑ Tere, Juhan (2010-02-03). "Elering is considering a bonds issue to finance Estlink 2". The Baltic Course. Retrieved 2010-02-06.
  12. ↑ "ENTSO-E Member Companies". European Network of Transmission System Operators for Electricity. Retrieved 2010-02-06.
  13. ↑ Tubalkain-Trell, Marge (2009-09-04). "Taavi Veskimägi leaves party and politics". Baltic Business News. Retrieved 2010-02-06.
  14. ↑ "Elering with its Finnish partner submits grant application to EU Commission". The Baltic Course. 2015-10-15. Retrieved 2015-11-24.

External links

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