The ailing gas importer Uniper has submitted an application for stabilization measures to the federal government after Russian deliveries were cut.
In an ad hoc announcement on Friday, Uniper announced that it had applied for state stabilization measures from the federal government. Specifically, the proposal also provides for equity components that would lead to a relevant federal investment in Uniper, the company announced on Friday. Uniper is the largest German gas importer.
In addition, the proposal provides for additional outside capital by increasing the KfW credit line (which has not yet been drawn). The measures are aimed at “ending the current accumulation of significant losses,” the company said.
On Friday morning, government circles announced that there was still no rescue plan for Uniper and no decisions had been taken on specific measures. A multi-billion dollar investment by the federal government in Uniper via a stake in equity is possible. However, a mix with the possibility of Uniper passing on high gas price increases to customers is also conceivable. In the amended Energy Security Act, the possibility of a surcharge for all gas customers has been created.
According to the Düsseldorf group, Uniper’s Finnish major shareholder Fortum is also in talks with the federal government. These relate to the negative effects of the current gas supply restrictions imposed by Russia on Uniper. Fortum’s proposal provides for a restructuring of Uniper with the aim of establishing a security of supply company owned by the federal government. The gas crisis and heavy reliance on Russia have put Uniper in financial difficulties.
