Eesti Energia to sell its Swedish retail client portfolio

On 8 June 2020, Eesti Energia and Skellefteå Kraft signed an agreement according to which Eesti Energia sells its electricity retail sales client portfolio to Skellefteå Kraft. Parties have agreed not to disclose the price of the transaction.

The transaction does not have significant impact on the results of Eesti Energia. The decision to sell Swedish portfolio was made to put more focus on markets where growth potential is seen higher. Swedish system operator has delayed the completion of a central datahub for collecting metering data of electricity consumers for several times currently with an end date of 2023, which is below Eesti Energia’s expectations. Contrary to the expectation’s of Eesti Energia, the Swedish retail market is currently in a price war which added incentive to exit the Swedish market. Eesti Energia continues to offer energy and energy solutions in Estonia, Latvia, Lithuania, Poland and Finland.