Elering Collected 4.3 Million Euros in July to Ensure Transmission Capacity

In July, Elering collected 4.3 million euros in transmission capacity auction revenue. The money will be invested into maintaining and expanding north-south transmission capacities, including the planned Tallinn-Riga connection.

Elering and the Latvian system operator Augstsprieguma tikls (AST) are submitting an application to the Connecting Europe Facility in the near future to receive co-financing for the construction of a new connection. The preparation of the financing application has reached the final stage and the submission deadline of the application is 19 August.

The transmission capacity auction revenue is used in accordance with a European Union regulation. "Elering invests all of the revenue collected from the allocation of the transmission capacity back into the development of the electrical grid in order to ensure the efficient functioning of the regional electricity market and thereby ensure security of supply for Estonian consumers," commented Taavi Veskimägi, Chairman of the Management Board of Elering.

Elering began channelling the transmission capacity auction profits into maintaining and expanding the capacities this July. Previously, Elering had factored the transmission capacity auction revenue into the rate of the national transmission service, i.e. the collected proceeds reduced the cost of the grid service to the consumer.

The third Estonian and Latvian connection project has been included in the list of Projects of Common Interest. In the current call, the objects on the list are scheduled to receive aid in the amount of 750 million euros.