VKG Elektrivõrgud (VKG EV, former name: Narva Elektrivõrgud) is an electricity distribution company in Estonia.[1] VKG Elektrivõrgud is the second-largest power distribution company in Estonia, after Elektrilevi, a subsidiary of Eesti Energia.[2]
 | |
| Company type | Private |
|---|---|
| Industry | Utility |
| Predecessor | Narva Elektrivõrgud |
| Founded | 1 January 1993 |
| Headquarters | , |
Area served | Narva, Narva-Jõesuu, Sillamäe |
Key people | Ivo Järvala (CEO)[1] |
| Services | Electricity distribution and retail |
| Revenue | 26.9 million € (2022) |
Number of employees | 34 |
| Parent | BaltCap Infrastructure Fund II |
| Website | www |
History edit
The history of the company reaches back to 1952 when it was established as a unit of Eesti Energia.[3] It was established on 1 January 1993 as an independent company Narva Elektrivõrk, a subsidiary of Eesti Energia. Narva Elektrivõrk separated from Eesti Energia in 1997 and in 1998–1999 was sold to Startekor, a company controlled by Cinergy Corporation.[4][5][6][7] In 2002–2003, the company was acquired by Sthenos Group and ECE European City Estates AG.[8] In July 2006, Narva Elektrivõrk became a subsidiary of Viru Keemia Grupp and was renamed VKG Elektrivõrgud.[9][10][11] In January 2024, VKG Elektrivõrgud was acquired by BaltCap Infrastructure Fund II (BInF II).[1]
Operations edit
VKG Elektrivõrgud distributes and sells electricity, and also provides operational management services for company power systems.
The company's service area is in Ida-Viru County, including Narva, Narva-Jõesuu, Sillamäe, Vaivara Parish and Viivikonna district of Kohtla-Järve. It has 35,000 customers and an annual sales of 262 GWh of electricity.[2]
See also edit
References edit
- ^ a b c "BaltCap acquired the second largest electricity distribution operator in Estonia". BaltCap. Retrieved 27 February 2024.
- ^ a b "Estonian Electricity and Gas Market Report". Tallinn: Energy Market Inspectorate. 2007. Retrieved 7 July 2011.
- ^ "OU VKG Elektrivorgud". Bloomberg BusinessWeek. Archived from the original on 14 October 2012. Retrieved 7 July 2011.
- ^ Hall, David (October 1999). "Electricity restructuring, privatisation and liberalisation: some international experiences" (DOC). Public Services International Research Unit. University of Greenwich. p. 13. Retrieved 7 July 2011.
- ^ "Contract signed to sell Narva power grid to US company". ETA. 5 May 1999. Retrieved 7 July 2011.
- ^ "Cinergy prefers private grids". Äripäev. 18 June 1999. Retrieved 7 July 2011.
- ^ Reinap, Aivar (12 April 2006). "Eesti Energia huvitub Narva Elektrivõrgust" [Eesti Energia is interested in Narva Elektrivõrgud]. Postimees (in Estonian). Retrieved 9 July 2011.
- ^ "Narva Elektrivõrk – Estonia". ECE European City Estates AG. 2003. Retrieved 7 July 2011.
- ^ Reinap, Aivar (1 July 2006). "Viru Keemia Grupp ostis Narva Elektrivõrgud" [Viru Keemia Grupp bought Narva Elektrivõrgud]. Postimees (in Estonian). Retrieved 9 July 2011.
- ^ Kuimet, Peeter (14 July 2006). "VKG ja Narva Elektrivõrgu koondumisele anti roheline tuli" [Green light for the concentration of VKG and Narva Elektrivõrgud]. Postimees (in Estonian). Retrieved 9 July 2011.
- ^ "VKG ostis kaks Narva elektrifirmat" [VKG bought two electric companies in Narva]. Äripäev (in Estonian). 3 July 2006. Retrieved 9 July 2011.