Aktsiaselts ELVESO

Name

Aktsiaselts ELVESO

Legal name

Aktsiaselts ELVESO

Website

https://elveso.ee

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Multi-Utility Services (Electricity, Water, Wastewater, District Heating)

NAICS

Electric Power Distribution (221122), Water Supply and Irrigation Systems (22131), Utilities (221)

SIC

Electric Services (4911), Water Supply (4941), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Investor-Owned Electric Distribution Utilities (IOUs) (EUADABAA)

akta.pro secondary industry

Drinking Water Distribution Network Operations (Mains, Valves, Hydrants, Service Lines) (EUANAAAE)

Keywords

• Electricity distribution services
• Public water supply
• Wastewater treatment services
• District heating services
• Multi-utility network operator

Headquarters

HQ city

Harju

HQ country

Estonia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Personnel, Supply Chain, Operations, Technology or R&D

Revenue model

1. Electricity Network Services: AS ELVESO operates the electricity distribution network and provides network services to electricity consumers in designated grid areas. Revenue is generated through regulated network fees approved by the Competition Authority. Network fees cover the cost of electricity transmission, distribution infrastructure maintenance, and planned investments.
2. Electricity Sales (Universal Service): AS ELVESO provides a universal electricity service (üldteenus) to residential customers at prices approved by the Competition Authority. The price is calculated monthly based on exchange and production cost components plus a margin component.
3. Water Supply and Sewage Services: Water supply and sewage collection/treatment services provided across multiple operational areas (Pirita Jõe, Vaida, Peetri, Patika). Revenue is generated through per-cubic-meter fees for water consumption and sewage disposal, regulated by the Competition Authority.
4. District Heating: District heating services provided to customers in Jüri and Vaida settlements. Revenue is generated through per-MWh heat consumption charges. Heat prices are regulated and approved by the Competition Authority, with prices varying by grid area.
5. Additional Services: Additional services including connection/disconnection of supply points, meter replacement, meter sealing, and technical consultations, charged at approved fee schedules.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

AS ELVESO operates regulated electricity distribution, public drinking water supply, sewage/wastewater collection and treatment, and biomass-based district heating networks serving residential and business customers across Rae municipality in Estonia. The company also provides a regulated universal electricity service to households and ancillary services such as connection/disconnection, meter replacement, and meter sealing at approved fee schedules.

Product overview

AS ELVESO is a multi-utility company operating in Rae municipality, Estonia, providing four core services: electricity grid services (Elekter), water supply (Vesi), sewage/wastewater management (Kanalisatsioon), and district heating (Soojus). The company also offers a universal electricity service (Universaalteenus) for household customers and maintains a self-service customer portal (Iseteeenindus). These services are delivered through extensive infrastructure including water treatment plants, sewage pumping stations, boiler houses, and distribution networks across multiple operating areas including Pirita Jõe, Vaida, Peetri, Patika, and Jüri.

Differentiator

Problem solved

Functional benefit

Products and services

• Electricity Services (Elekter) Electricity grid services including network management, network connections, network contracts, network fees, and universal service supply for household customers in Jüri and surrounding electricity grid areas of Rae municipality.
• Water Supply (Vesi) Drinking water supply services including water treatment, network connections, consumption contracts, and water quality management across the Pirita Jõe, Vaida, Peetri, and Patika operating areas.
• Sewage/Wastewater Services (Kanalisatsioon) Wastewater collection and treatment services including sewage network management, connection services, and treatment plant operations (including the mechanical-biological Jüri wastewater treatment plant with phosphorus removal) across Rae municipality.
• District Heating (Soojus) District heating services providing warmth to Jüri and Vaida localities through biomass boiler houses (using chipped wood) and reconstructed district heating networks, with heat prices regulated by the Competition Authority.
• Universal Electricity Service (Universaalteenus) A regulated electricity supply package for household customers valid from October 1, 2022, providing electricity at a price calculated monthly based on exchange and production cost components plus a margin component, with prices approved by the Competition Authority.
• Customer Self-Service Portal (Iseteenindus) Online customer self-service portal enabling bill payments, meter reading submissions, and account management, supporting payments via Swedbank, SEB, Luminor, Coop, LHV, Citadele, and Bigbank.

Quantifiable outcome

• 757 properties enabled to connect to shared water supply and sewage systems through Pirita jõe project
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Twelve partnerships are on record, tiered minor and core.

• EleringminorStrategic or Co-development Partner · 1 January 2026Elering is the Estonian electricity transmission system operator. From 2026, new fees for balancing capacity (tasakaalustamisvõimsuse tasu) and supply security (varustuskindluse tasu) will be added to customer electricity bills, administered through Elering.
• BigbankminorChannel Partner/ Reseller/ Distributor · 15 December 2025AS ELVESO enabled e-invoice ordering via Bigbank and the ability to set up standing payment orders with Bigbank from 15 December 2025.
• Luminor, LHV, CitadeleminorChannel Partner/ Reseller/ Distributor · 1 April 2023As of April 2023, AS ELVESO self-service portal expanded payment options to include Luminor, LHV, and Citadele banks in addition to existing Swedbank and SEB options.
• Coop PankminorChannel Partner/ Reseller/ Distributor · 1 November 2022AS ELVESO opened a settlement account with Coop Pank in November 2022, enabling customers to pay bills via Coop Pank in addition to existing options at Swedbank and SEB.
• AS Tallinna VesicoreStrategic or Co-development Partner · 1 January 2022AS Tallinna Vesi is a key upstream partner providing water supply and sewage treatment services to AS ELVESO. Price increases by AS Tallinna Vesi directly impact AS ELVESO's water and sewage service pricing to end customers. This is a critical dependency for water supply in multiple operational areas.
• Elektrilevi OÜcoreStrategic or Co-development Partner · 1 January 2022Elektrilevi OÜ is the upstream electricity distribution network operator from which AS ELVESO purchases electricity network services. Price increases by Elektrilevi directly affect AS ELVESO's network service costs and prices to end customers.
• Infragate Eesti ASminorImplementation/ SI/ Consulting Partner · 1 January 2017Infragate Eesti AS was contracted for construction supervision and project management for the Jüri boiler house reconstruction, with a contract value of 52,400 EUR.
• Stroicom OÜminorImplementation/ SI/ Consulting Partner · 1 January 2017Stroicom OÜ was the construction contractor for the Jüri heating pipeline renovation project (Rebase street area), completed April-September 2024.
• AS NordeconminorImplementation/ SI/ Consulting Partner · 28 April 2014AS Nordecon was the construction contractor for the Mõigu residential area water and sewage pipeline reconstruction project.
• OÜ EL Konsult, AS Lemminkäinen, AS Merko Ehitus, AS Skanska EMV, AS Telora-EminorImplementation/ SI/ Consulting Partner · 1 January 2013Contractors and consultants involved in the Pirita jõe RVKA veemajandusprojekt: OÜ EL Konsult (consultant), AS Lemminkäinen, AS Merko Ehitus, AS Skanska EMV (construction), AS Telora-E.
• AS Nordecon, AS EG Ehitus, AS Telora-E, AS Infragate EestiminorImplementation/ SI/ Consulting Partner · 5 November 2012Contractors involved in the Vaida district heating network reconstruction project: AS Nordecon, AS EG Ehitus, AS Telora-E, and AS Infragate Eesti as construction supervisors.
• Ramboll Eesti AS, AS Vensen, Watercom OÜminorImplementation/ SI/ Consulting Partner · 1 January 2011Ramboll Eesti AS, AS Vensen, and Watercom OÜ served as consultants and contractors for the Vana-Aaviku residential area water and sewage system reconstruction project.

Scale indicators12 records

Recent moves6 records

Expansion highlights3 records

Broad incumbents

• Fortum Eesti AS: Finnish-listed integrated energy group operating in Estonia across district heating and power. Comparable on regulated thermal-energy business and EU-aligned energy-transition investments.
• VKG Energia OÜ: Estonian energy group operating district heating in Ida-Virumaa with biomass and shale-gas assets. Comparable on district-heating technology and Estonian regulatory environment, with significantly larger generation footprint.
• Eesti Energia AS: State-owned Estonian integrated energy group (parent of Elektrilevi, generator, and heat businesses). Comparable as a vertically integrated multi-utility operating generation, distribution, and district heating under Estonian regulation. Far larger scale.
• Elektrilevi OÜ: Estonia's largest electricity distribution network operator, serving ~95% of Estonian households. AS ELVESO is also its customer for upstream network services, making Elektrilevi both a direct DSO peer and a critical dependency. Comparable on electricity distribution business model and price-regulation regime.

Direct peers

• AS Tallinna Vesi: Listed Estonian water and wastewater utility serving Tallinn and surrounding areas. Directly comparable to AS ELVESO's water and sewage operations — in fact, AS Tallinna Vesi is ELVESO's key upstream partner, operating under the same Konkurentsiamet regulatory framework.
• Kohila Maja OÜ: Small Estonian municipal utility providing water, sewage, heating, and housing services in Rapla county. Closest peer to AS ELVESO's scale, single-municipality profile, and multi-utility model.
• Imatra Elekter AS: Small Estonian electricity distribution network operator serving rural and small-municipality areas. Closest like-for-like scale and operating-area profile to AS ELVESO's electricity distribution business.
• Utilitas Tallinn AS: Estonian district heating operator and renewable energy developer. Directly comparable on the biomass-fired central heating side of AS ELVESO's business, including the Jüri/Vaida boiler houses converting to wood-chip fuel.

Others

• Elering AS: Estonian transmission system operator; not a distribution peer, but a direct counterparty for balancing and supply-security fees added to AS ELVESO customer bills from 2026. Relevant as the upstream system layer above Elveso's distribution business.

Regional players

• Sõmerpalu Vesi OÜ: Small southern-Estonian water and wastewater utility. Comparable as a small, single-municipality water/sewage operator regulated by Konkurentsiamet, though operating in a different geography (Võru county).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/elveso-as

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aktsiaselts ELVESO