All large state-run companies could be listed - Eesti Energia supervisory board member

Photo: Mihkel Maripuu

 Newly-appointed member of the supervisory board of Estonia's state-owned energy group Eesti Energia Olari Taal is of the opinion that all large state-run companies could be listed, the business daily Äripäev says.

"The listing of Eesti Energia is for the owner, that is, the state, to decide. To my mind, as little as possible and as much as necessary of Eesti Energia could be on the stock exchange," Taal told the paper.

"A bit of all major state-owned enterprises could be on the stock exchange. That would ensure bigger transparency. I think there would then be less arguing about where to invest," the former banker said.

Acting as representative of the sole shareholder of Eesti Energia, Finance Minister Jürgen Ligi on Thursday recalled Rein Kilk from the state-owned energy group's supervisory board and appointed former top banker and Cabinet minister Olari Taal in his place. The replacement of the supervisory board member was prompted by Kilk's wish to quit the supervisor.

Ligi explained the appointment with Taal's knowledge of the economy. "Olari Taal is undeniably an economic expert, I maintain that the supervisory board is getting stronger," he said at the government's press conference on Thursday in reply to BNS' question.

In Ligi's words, the "embarrassing fact" of Eesti Energia's investment in a cogeneration plant near the Werol rapeseed oil factory formerly connected with Kilk should be relegated to the background.

The supervisory board of Eesti Energia is now made up of Jüri Käo, Meelis Atonen, Kalle Palling, Toomas Tauts, Toomas Luman, Olari Taal, Andres Saame and Märt Vooglaid.