Posts tagged as Estonia

Only new renewable capacities able to bring price of electricity down

Monday, September 20, 2021

The record-breaking electricity price this week has consumers worried. While energy companies and politicians are trying to mitigate the blow, the only thing that can keep the price down in the long run is having enough environmentally friendly production capacity. The world’s largest oil shale heat and power plant, first launched half a century ago, has once again become the flagship of national energy company Eesti Energia. Because the company’s…

Statistics: Producer price index up 15 percent on year to August

Monday, September 20, 2021

The producer price index of industrial output increased by 1.7 percent compared to July 2021 and by 15.5 percent compared to August 2020, state agency Statistics Estonia reported. Statistics Estonia leading analyst Eveli Šokman said that the index was affected by price increases in the manufacture of wood and wood products, in electricity production and in the manufacture of metal products. “Also the prices of electronic products had an impact…

Steinmeier: “Anyone who threatens the Baltic states threatens the entire North Atlantic Alliance, and threatens Germany”

Friday, September 17, 2021

President Egils Levits was in Germany September 16, for a visit to the country in which he spent much of his youth, alongside his counterparts from Estonia and Lithuania to mark 30 years of diplomatic relations between Germany and the Baltic states. Playing host was German President Frank-Walter Steinmeier, who delivered a speech to his Baltic counterparts at a luncheon they enjoyed together. The text of Steinmemer’s speech is reproduced below from…

Share of alcohol, tobacco tax in Estonia’s state budget among largest in EU

Thursday, September 16, 2021

The proportion of income from alcohol and tobacco excise duty in Estonia’s state budget is among the largest in the European Union at almost 4.8 percent of the budget, a survey by the Foresight Center shows. “Given the annual deficit of the Estonian health care system will increase to €900 million by 2035, Estonia has used one-sided taxation options to promote healthy behavior,” Magnus Piirits, an expert at the Foresight…

Electricity prices to reach record levels in Estonia

Wednesday, September 15, 2021

Each European Union state has their own model to aid vulnerable consumers and Estonia has its subsistence benefits, the European Commissioner for Energy told in response to record-high electricity prices. “I asked my family of three people living in a three-room apartment for their electricity bill. August 2019 and August 2021. True, the price of electricity has grown. It was €2.77 in 2019 and now more than €5.50. If we…

Increasingly wealthier Estonian can handle electricity prices

Wednesday, September 15, 2021

Grid distributor Elering chairman of the board Taavi Veskimägi told that the current high electricity prices stem from the high prices of coal and natural gas and the increased CO2 quota price. There is plenty capacity to produce electricity in Europe and people worried about the climate should consider considerably higher prices, he added. “If we are speaking about the price of electricity in Europe, we must understand that not…

Helme: Economy is growing thanks to previous government

Wednesday, September 15, 2021

According to former finance minister and chairman of EKRE Martin Helme, the growing economy and high level of collected taxes are due to work carried out by the previous government. Helme, who was finance minister in the Center/Isamaa/EKRE government between 2019-2021, said: “Now it can be seen that the decisions we made to revive the economy, cut taxes, stimulate the economy through Kredex, Enterprise Estonia measures, have created the best…

General Electric pays Eesti Energia €30 million compensation

Tuesday, September 14, 2021

Estonia’s state-owned Estonian energy group Eesti Energia AS will recieve €30 million in compensation after signing a compromise agreement with GE Power Estonia AS. The penalties arise from the availability guarantee of the Auvere power plant for the period between July 2018 and August 2020. The parties agreed on a compromise on September 10. GE paid €28 million of the compensation in the final quarter of 2020 under a bank…

Estonian-Latvian joint offshore wind farm project kicks off

Monday, September 13, 2021

Estonian-Latvian offshore wind farm project ELWIND is progressing rapidly and has reached a notable milestone – a public procurement for a pre-feasibility study, the aim of which is to preselect suitable geographical areas for the construction of the wind farm, has been successfully completed. A joint procurement to select a suitable contractor for the conduction of a pre-feasibility study of the offshore areas which are available for developing the unique,…

Baltic, Polish Foreign and Defense Ministers in Rīga

Monday, September 13, 2021

Monday, September 13 sees the Ministers of Defense and Ministers of Foreign Affairs of Estonia, Lithuania and Poland visiting Rīga together, for meetings hosted by their Latvian counterparts. From 2.30 pm to 3.00 pm, the Ministers of Defense will take part in a discussion organized by the Latvian Transatlantic Organization, which will discuss Russian-Belarusian military exercises “Zapad 2021”, hybrid threats, as well as co-operation between NATO and EU member states in the Baltic Sea…