EU allows billions injection for Uniper – economy

energy crisis:EU allows billions in aid for Uniper

Energy crisis: Foyer of the Uniper headquarters in Düsseldorf: The EU Commission has approved German billions in aid for gas importers.

Foyer of the Uniper headquarters in Düsseldorf: The EU Commission has approved German billions in aid for gas importers.

(Photo: Oliver Berg/dpa)

However, the gas importer has to give up shares in order to do so. However, the conditions are milder than feared.

By Björn Finke, Brussels

The EU Commission has approved the federal government’s billions in aid for the ailing gas importer Uniper. This was subject to conditions – but they were easier than some feared. The competition watchdog of the Brussels authority gave the decision known on Tuesday evening, one day after an extraordinary general meeting had approved the nationalization of the Düsseldorf group. Specifically, the approved aid is about an immediate capital increase of eight billion euros. In addition, a further capital increase of up to 26.5 billion euros is planned until 2024, as stated in the Commission’s communication. The authority had already declared on Friday that there were no antitrust concerns about the takeover by the federal government. This paves the way for the taxpayer to bail out. The company was in trouble due to the Russian gas supply freeze.

However, Uniper has to part with business areas so that state aid does not lead to unfair advantages and distortions in the internal market. There had been speculation that Brussels would demand the sale of stakes in profitable Swedish nuclear power plants. CEO Klaus-Dieter Maubach wanted to prevent this – with success: Instead, the company is to part with the Datteln coal-fired power plant, a gas-fired power plant in Gönyu, Hungary, the German district heating business, the helium business and shares in two pipelines by 2026. In addition, the group is to separate from its Russian business, which was planned anyway.

source site