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Eastern European Markets

PRESS RELEASE
January 14, 2014

Energiakolmio expands into Baltic market

The leading energy market expert service company in Finland, Energiakolmio Oy, has acquired one-third of the Estonian company Baltic Energy Services. The agreement reinforces Energiakolmio’s position in the Baltic countries and provides a more extensive service structure for the company’s domestic and foreign clients in Estonia, Latvia and Lithuania. The agreement includes an option to acquire the majority holding of Baltic Energy Services in the future.

”Energiakolmio's aim is to become the leading energy management service house in the Nordic and Baltic countries”, says Energiakolmio’s CEO, Anssi Kuoppala. “The Baltic energy market is becoming integrated as part of the Nordic energy market. Together, we will be able to offer energy market services as a package, which will surely correspond to the needs of even the most demanding of our clients,” Kuoppala explains.

>From BES point of view the new strategic cooperation strengthens the competitive position of BES in the opened electricity markets of the Baltic States.

“The involvement of Energiakolmio owners in BES ownership is a natural further step based on years of earlier cooperation in serving Energiakolmio customers in the Baltics”, says Kaido Veldemann, CEO of BES. "Energiakolmio’s useful experience from the Nordic electricity market can now be fully utilized in the Baltics by Baltic Energy Services, which makes us well-positioned for the full integration of the Baltic and Nordic electricity markets in the coming years."

Energiakolmio offers services related to energy procurement and sales, and efficient use of energy. The company employs 90 people in Finland, and its turnover in 2012 was MEUR 28.4.

Baltic Energy Services is the leading electricity portfolio manager in the Baltic region with 10 % market share in Estonia. BES turnover in 2012 was MEUR 42.6. BES customers are mainly large industrial electricity consumers, grid companies, electricity retailers and traders, and renewable generation companies.

Further information:
CEO Anssi Kuoppala, Energiakolmio Oy tel. +358 20 799 2109
CEO Kaido Veldemann, Baltic Energy Services tel. +372 51 13789


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