The Estonian state-run utility Eesti Energia has received approval from its shareholders to extend its retail sales businesses in the Swedish and Finnish power markets. The company will start the retail sale of electricity to private customers in both countries by the first half of 2018.
Power distribution service is Eesti Energia’s second-largest source of revenue; the company has been selling electricity both in Latvia and Lithuania for around 10 years and entered the Latvian gas market along with the Polish electricity and gas markets in 2017. In 2016, it sold 8.9 TWh of which 2.7 TWh of wholesale sales and 6.2 TWh for retail businesses.
Eesti Energia also entails a power generation unit and its 2016 installed capacity reached 2,109 MW. The company plans to grow the volume of renewable energies in its production portfolio up to 40% by 2020.