The CEO of Elering Taavi Veskimägi is resigning

Taavi Veskimägi, who has been the CEO of Elering for nearly 14 years, is resigning from his position as the chairman of the board as of July 1st, at his own request. The new chairman of Elering’s board is going to be Kalle Kilk, who is currently a member of the board. Erkki Sapp is going to be a new member of the board.

"For almost 14 years, I have had the privilege of working in a company whose mission in the society is so clear - to keep the lights on and the rooms warm in Estonian homes. We have managed this task well, and the reliability of Elering’s electricity and gas transmissioon grids have been excellent. However, in order to stay mentally fit, it is important to take on new challenges and not to be afraid of changes. I have always considered these very important –  both when starting Res Publica party while leaving from the Ministry of Finance and also when leaving the Parliament to lead the separation of the main grid from Eesti Energia," said Taavi Veskimägi.

"It is not possible to leave Elering when there is a risk to the security of supply of the energy to the consumers. All the additional activities planned after the full-scale attack against Ukraine in 2022 to ensure the security of supply of electricity and gas in Estonia have been implemented, the energy market has calmed down, and our most important project, synchronization, is progressing as planned with financing secured and major procurements in contracts. So, it is the right time to leave now. I have always tried to lead in a way that the team would be able to continue without me. And now, my good colleagues can do it. Kalle Kilk as the chairman of the board and Erkki Sapp as a new board member have the best competence in this field in Estonia," explained Veskimägi.

"The entire history of Elering includes several transformative changes - the separation of the main electricity grid from Eesti Energia and the establishment of the independent electricity transmissioon system operator, the acquisition of the gas transmission grid from Gazprom, Fortum, and others, along with the formation of an integrated electricity and gas transmission system operator, the listing of bonds on the London Stock Exchange, the opening of the electricity and gas market, and the connection to cross-European energy markets through extensive infrastructure projects (EstLink 2, Balticconnector, Latvia's third electricity connection), the separation from Russia's power system and the implementation of the project to synchronize with the Continental European power system. From the consumer's perspective, the most important aspect of all this is the significant improvement in the reliability of the electricity and gas transmissioon grids. I want to thank all my colleagues and partners who have helped us achieve our goals and have done their work responsibly and devotedly, while remaining open to changes,“ he said.

Timo Rajala, the chairman of the supervisory board of Elering, thanked Veskimägi for his work. „As an independent company, Veskimägi has created an electricity and gas transmissioon system operator that has been able to put all significant energy market and infrastructure projects into practice, even in very difficult conditions, making Elering a visible success story across Europe. The supervisory board has always held Veskimägi in high regard as a leader, and we wish him all the best in his next phase of life,“ he said.

The supervisory board appointed Kalle Kilk, a current member of the board, as the chairman of the board until the end of 2024, when the current board's term expires. As Taavi Veskimägi covered energy markets and management center topics in the board, the supervisory board decided to bring in Erkki Sapp, the current head of Elering's energy markets department, as a board member.

Minister of Climate Kristen Michal thanked Taavi Veskimägi for his long and dedicated contribution to ensuring Estonia's energy security. "Years have passed quickly and Elering has grown alongside Taavi, but the most important thing is that our state and its people could always be sure that whatever the challenges, we were always prepared.  I would like to wish success to the new leader, Kalle Kilk, and the board member, Erkki Sapp. They have big shoes to fill because the expectations for the service, as well as risks in the world, have grown. There is no quiet time coming, as synchronization with the Continental European grid awaits, and in the boom of renewable energy, the quality and availability of grid connections play a key role," Michal said.

Taavi Veskimägi became the the chairman of the board of Elering in 2009. Before that, Veskimägi was the Minister of Finance of the Republic of Estonia, a parliamentary politician, the head of the Res Publica party and the head of the Public Administration Department of the Ministry of Finance.