Supporting Enefit’s Long-Term Strategy Creation with Market Analysis
Client
Enefit (Eesti Energia)
Client Overview:
Civitta provided support to Enefit (Eesti Energia), Estonia’s largest state-owned energy company, by conducting a business line market analysis. This analysis was crucial in assisting the company with informed decision-making during its strategy creation process. Enefit’s diverse business portfolio includes renewables production, power generation, oil production, energy retail, EV solutions, heating & cooling, installation and maintenance services, and chemicals.
Over the past five years, most of these lines have undergone substantial transformations due to factors like the energy crisis, geopolitical tensions, increasing electrification, and regulative shifts. Civitta partnered with Enefit to develop a comprehensive, 10-year analysis for each business line. This in-depth study examined both the current situation and the future outlook, enabling the client to make well-informed decisions during their long-term strategy creation process.
The Challenge:
The core objective of this project was to enable Enefit to make well-informed, sustainable strategic decisions across its primary business lines. We achieved this by simplifying a complex and rapidly shifting energy sector into distinct, comparable future scenarios. Collaborating closely with the client’s strategy team, we focused our efforts on answering key questions:
What are the anticipated developments in demand, regulation and technology within each segment? What is Enefit’s most realistic and impactful role? And, consequently, which current activities should be scaled up, transformed, or discontinued?
Our Approach:
- Over several months our team built a consistent market outlook for the next 10-20 years, combining external scenarios with our own analysis for electricity production (renewable and non-renewable), electricity retail, the distribution grid, oil production, hydrogen, EV solutions, heating and cooling, electricity storage, and installation and maintenance services.
- For each area, we assessed underlying demand drivers, regulatory developments, emerging technologies and business models, and stress-tested different trajectories through qualitative and quantitative lenses.
- We developed a comparable set of market size, growth and profitability indicators, as well as the key risks and inflection points that Enefit should monitor.
- We mapped the competitive landscape in the Baltics, Poland and wider Europe, looking at how incumbent utility companies and new market entrants position themselves across the value chain and which segments they prioritise.
- This allowed us to highlight where Enefit is already well placed, where competition is intensifying, and which “white spots” could offer attractive opportunities.
- The result is a coherent set of market outlooks and competitor insights that can be directly used in Enefit’s strategy process to compare business lines on a like-for-like basis and guide portfolio and investment.
Services Provided:
- Business and corporate strategy
- Market research
- Competitive landscape analysis
Results & Impact:
The team’s efforts resulted in a comprehensive market analysis, including a segment outlook.
This analysis and the accompanying strategic recommendations were crucial in supporting the clients’ long-term strategy development.
Key Takeaways:
This project demonstrated how structured business and corporate strategy, supported by robust market research and competitive landscape analysis, can turn uncertainty into a clear basis for long-term decision-making. By translating complex regulatory, technological, and demand-side dynamics into comparable market outlooks, Civitta enabled Enefit to confidently prioritize where to grow, transform, or exit.
Civitta’s key value was linking strategic analysis directly to investment, scaling, and transformation decisions, ensuring a strategy that was both visionary and operationally actionable. This approach is highly transferable to other industries facing rapid change, such as manufacturing, mobility, infrastructure, and industrial services, where companies must balance portfolio management, regulation, and technological disruption over the long term.
