Chairman of the Economic Affairs Committee of the Riigikogu (Parliament of Estonia) Toomas Kivimägi said today at the conference “Energy – Key Driver of Economic Growth” that among the countries of the European Union, Estonia is the least dependent on imported energy.

“Oil shale naturally has its role here, but the rapid development of renewable energy and district heating sectors is of no less importance. The share of renewable energy in final consumption of energy is more than a fourth, or 26.5 percent. It is important not only from the aspect of energy independence, but also from the aspect of security in a wider sense,” Kivimägi said.

In Kivimägi’s opinion, large renewable energy subsidies have contributed to the development of the sector, but at the same time have also brought along a certain negative impact on the general competitiveness of economy. “Because of the high price of electricity, several investments into energy intensive economy have not come to Estonia. Finding a new point of balance is a complicated but achievable challenge,” Kivimägi said.

According to Kivimägi, this year can be called the energy year in the parliament, because the Organisation of Energy Sector Bill is on the table of the Riigikogu, and the Energy Sector Development Plan, District Heating Bill and Electricity Market Bill are coming. “These are vital laws, their purpose is to give guidance and stability to energy sector for the coming decades. The aim is to get all these bills and development plans passed during this year,” Kivimägi said. He added that it should provide confidence to investments that had been made earlier and create possibilities for newcomers.

Cooperation conference of the Estonian Member Committee of the World Energy Council and the Economic Affairs Committee of the Riigikogu “Energy – Key Driver of Economic Growth?” is held today at the Conference Hall of the Riigikogu. Besides Toomas Kivimägi, economist Hardo Pajula, representative of Enterprise Estonia Indrek Pällo and Europe Region Manager at the World Energy Council Einari Kisel also present reports at the conference.

The conference can be followed on the web page of the Riigikogu.

Photos of the conference  

Riigikogu Press Service
Kati Varblane
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