The Supervisory Board of Eesti Energia has approved the Group\u2019s strategy up to 2030 and beyond. The Group aims to ensure a secure, competitive energy supply while transforming the green transition into commercial growth.<\/b><\/p>\n
To this end, the Group will focus on meeting growing demand for electricity, developing a balanced energy asset portfolio and strengthening its investment capacity to be ready to make the necessary investments in the future.<\/p>\n
\u2018Eesti Energia\u2019s role is to provide people and businesses with the assurance that energy is available, accessible and competitively priced. We channel our investments into projects where we see long-term value for our customers, Estonia\u2019s energy security and the company. For new generation capacity, investments must be commercially viable and, where necessary, their profitability must be supported by appropriate measures,\u2019 commented Andrus Durejko<\/b>, Chairman of the Management Board of Eesti Energia.<\/p>\n
Over the coming decade, the energy market will be shaped by electrification, the rapid expansion of renewable energy and the resulting rise in electricity price volatility. Renewable energy generation depends on the weather, which means that periods of very low and high prices will alternate more frequently in the market than before. This increases the need for dispatchable generation capacity, energy storage, flexibility solutions and a reliable electricity network to ensure that electricity is available even when renewable energy generation is low.<\/p>\n
Eesti Energia\u2019s core strength lies in its broad-based business model which brings generation, the electricity network, trading and customers together into an integrated value chain. This enables us to optimise energy assets and manage market fluctuations effectively. For customers, this means reliable and competitively priced energy, better price risk management and energy solutions tailored to their needs.<\/p>\n
Four priorities up to 2030<\/b><\/p>\n
Over the longer term, the company forecasts that growing electricity demand will drive the need for new dispatchable and flexible generation and storage solutions. In light of this, the Group will be guided by four strategic priorities over the coming years:<\/p>\n
Enabler of the energy transition<\/b>. The Group aims to meet approximately two-thirds<\/b> of the incremental electricity demand in Estonia by 2030<\/b>. The focus will be on improving electricity network reliability, speeding up connections, and developing flexibility and long-duration energy storage solutions.<\/p>\n
A balanced portfolio of energy assets<\/b>. Eesti Energia plans to add up to 350 megawatts of cleaner dispatchable generation capacity to its portfolio (including gas-fired power plants) and make more efficient use of its existing energy assets. A balanced asset portfolio must combine renewable energy, cleaner dispatchable generation capacity, and storage and flexibility solutions to reduce environmental impact while safeguarding both energy security and security of supply.<\/p>\n
A future-proof business<\/b>. Eesti Energia will maintain strategic flexibility regarding new investments \u2013 depending on market developments, business growth may come from new generation capacity, business segments or emerging technologies. Investment decisions will be based on their commercial viability and their impact on the Group\u2019s long-term competitiveness.<\/p>\n
A value-creating and efficient organisation<\/b>. In implementing the strategy, we will develop in-house expertise across future energy solutions, digitalisation, artificial intelligence and regulatory affairs to be an active driver of change in the energy system.<\/p>\n
A profitable business creates opportunities to invest in the future<\/b><\/p>\n
Following a period of large-scale investment that delivered substantial renewable generation capacity to the region, Eesti Energia will, over the coming years, focus on improving the profitability of its existing operations, managing its asset and customer portfolios more holistically, increasing cost efficiency and allocating capital to projects that generate long-term value.<\/p>\n
According to Andrus Durejko<\/b>, improving profitability is a prerequisite for Eesti Energia to fulfil its role in the energy system over the long term.<\/p>\n
\u2018The energy sector requires substantial, long-term investment. To this end, Eesti Energia must be a financially robust company capable of investing even in a shifting market environment. In the near term, we are therefore focusing on increasing the value of our existing assets and driving efficiency. When it comes to new investments, we operate on the principle that growth must create value,\u2019 Durejko <\/b>said.<\/p>\n
Maintaining strategic flexibility amid market uncertainty<\/b><\/p>\n
In the longer term, the Group is transitioning towards a cleaner energy portfolio and gradually phasing out oil shale-based power generation. In parallel, Eesti Energia is focusing on making more efficient use of its existing oil shale assets and increasing their value, decoupling its electricity and shale oil businesses, and valorising ash and gangue.<\/p>\n
As market, technology and regulatory developments may unfold differently than expected, the strategic plan will be reviewed regularly.<\/p>\n
\u2018In the energy sector today, decisions spanning decades must be made in an environment where market, technological and regulatory trajectories cannot be predicted with absolute certainty. That is why we are not tying our strategy to any one specific technology or growth path. Our objective is to keep Eesti Energia robust and flexible enough to invest at the right time in the solutions that the Estonian energy system and our customers need,\u2019 said Durejko<\/b>.<\/p>\n
\u2018For us, the energy transition does not mean having to choose between security of supply, price and the environment. Estonia needs all three. Eesti Energia\u2019s role is to help shape an energy system that is cleaner, reliable and actively supports the competitiveness of the Estonian economy,\u2019 Durejko <\/b>added.<\/p>\n