Tallinna Vesi : will submit a new tariff application by the end of February

Tallinna Vesi
Company Announcement

Tallinna Vesi will submit a new tariff application by the end of February

AS Tallinna Vesi submitted an application to the Estonian Competition Authority to clarify the timetable for the submission of the new water tariff approval application. Today, the Competition Authority approved company´s application and is expecting AS Tallinna Vesi's tariff application by 28.02.2018 at the latest.

Last Tuesday, the Supreme Court issued a decision on the tariff dispute, which requires AS Tallinna Vesi to start negotiations with the Competition Authority. On 12.12.2017, the Supreme Court made a decision on AS Tallinna Vesi's appeal in cassation with regard to the tariff dispute with the Competition Authority. Supreme Court decided to partly uphold AS Tallinna Vesi's appeal in cassation. The Court stated that the Competition Authority is not required to honour the water tariffs stipulated in the Services Agreement, which was executed at the time of privatisation, and AS Tallinna Vesi's tariffs will be regulated by the tariff methodology developed by the Competition Authority.

As a result of the final verdict, the interim injunction, which had been granted by the Estonian courts with regard to the Competition Authority's precept to reduce the tariffs, expired. AS Tallinna Vesi has started preparations to comply with the precept in the manner that both ensures the conformity with the Estonian legal requirements and protects the interests of Tallinna Vesi's shareholders.

Riina Käi
AS Tallinna Vesi
Chief Financial Officer
Ph: (+372) 62 62 262
riina.kai@tvesi.ee