Competition Board approved concentration of OÜ VKG Energia and Kohtla-Järve section of Fortum Termest

On 7.11.2005, the Competition Board approved the concentration of OÜ VKG Energia and the thermal power station section of Termest AS located at Kohtla-Järve. As a result of the concentration, OÜ VKG Energia acquired from Termest AS the thermal power station, steam, district heating and power networks at Kohtla-Järve.

In addition to offering district heating services and electric power production, VKG Energia hopes, through its acquired share, to increase considerably the sales of steam and electric power to industry.

The concentration will improve the reliability of the Kohtla-Järve city and Kohtla rural municipality district heating supply, and ensure a better use of the energy obtained by burning producer gas.

VKG Energia will take over all the 92 employees working at the Fortum Termest station and in their networks. The planned consolidated turnover of the two stations belonging to OÜ VKG Energia is 160 million kroons, with a total of 200 people employed at the two stations.

On 24.10.2005, Fortum Termest AS and OÜ VKG Energia signed an agreement, on the basis of which Fortum Termest sold the Kohtla-Järve plant to VKG Energia.

Additional information:

Elina Kink
Head of Public Relations, VKG
GSM 523 2700, e-mail: elina.kink(at)vkg.ee