Salaries of Eesti Energia executives to go up

22.05.2012, 11:00

Jüri Käo, chairman of the supervisory board of state-owned energy company Eesti Energia, says that the salaries of executives of Eesti Energia must be raised, but did not name to what level, writes Postimees.

Käo says that current salaries of Eesti Energia’s management board members were fixed six years ago and are no longer competitive.

„They no longer comply with market conditions and have fallen behind,” said Käo.

He added that, in the meantime, the company had changed.

„It is no longer a monopoly in a closed market, but operates on a liberalised power market and is now earning money selling shale oil”.

It is known that Sandor Liive, chairman of Eesti Energia earned 136,000 euros last year including bonuses.

Liive’s salary has been criticised by the public and by opposition MPs because they see it as one reason why the power bills have gone up so rapidy.

However, Liive is a long way from the salary level of Tero Taskila, president of Estonian Air, who is making about 35,000 euros a month.