Maxi loss of 12 billion for the German group Uniper after the Russian gas blockade

Maxi loss of 12 billion for the German group Uniper after the Russian gas blockade

The German energy group Uniper falls on the stock exchange after the spread Half-year data marking a loss of 12 billion euros. Half of the red figures (6.5 billion) are due to the severe supply cuts decided by Russia, of which the group is one of the main customers. The group has to supply German companies and families and has to find the gas that it no longer gets from Moscow on the market. But at the current prices, the costs for the company are exploding. Management said the group is located “On the Verge of Bankruptcy”. In theory, Uniper cannot do that Convert higher costs to contracts with customers who have a fixed price for a certain period of time.

German gas giant Uniper (bailed out by government) to customers: 'Get ready for super bill hikes'

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German gas giant Uniper (bailed out by government) to customers: ‘Get ready for super bill hikes’

To this end, however, he intervened the federal government by approving an exception which will allow operators from October next year Download up to 90% of raises on clients. This measure is estimated at an average cost of 500 euros per family. Further losses for Uniper result from the stop at north stream 2, Pipeline linking Russia and Germany with a capacity of 55 billion cubic meters per year and is currently frozen. Berlin had already been assigned to rescue the group in the past few months 15 billion euros and entry into the capital with a stake of up to 30%.

Meanwhile, Germany continues the work Filling of the storage areas in view of the winter. The plants are 77% fully utilized, i.e. on the same level as the Italian ones. It’s a high number, a few weeks above normal. However today Klaus Mueller, President of the Federal Network Agency, said that even with full reserves Germany could hold out for a maximum of 3 months in the event of a total halt to Russian supplies.

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