Savisaar: Eesti Energia’s oil business is waste of taxpayer money18.10.2012, 11:58
Edgar Savisaar, chairman of the country’s largest opposition party Centre Party, writes in Äripäev that Estonian state power company Eesti Energia is using oilshale not for the benefit of the people, but for making a killing.
“The upcoming sharp increase in the power tariffs will almost double the prices of daily goods and services from January 2013, but this is not enough for Eesti Energia. While this year the company received EUR 150m in state subsidies, it is demanding another 200 million in 2013 to pay for the company’s ambitious investment in the shale oil business, despite the criticism made by the State Auditing Office,” writes Savisaar.
"Eesti Energia, Viru Keemia Group and Kiviõli Keemistööstus pay a few tens of millions of euros in oilshale resource fee every year, but earn hundreds of millions of euros in net profit. Äripäev has estimated that among Estonia’s ten richest people are four oilshale businessmen whose assets total EUR 400m. These four people have amassed this wealth by benefiting from the publicly owned oilshale.
Estonian state must put a fair value on Estonia’s most important natural reserve and make sure that it benefits the public, and not just a few businessmen."