The ailing energy group Uniper recorded a net loss of more than 12.4 billion euros in the first half of the year. The supplier announced on Wednesday that 6.5 billion euros alone can be attributed to expected future interruptions in gas supplies from Russia. In addition, there would be impairments of 2.7 billion euros.
The group does not dare to make any forecasts, but expects losses for the financial year. The result should improve in 2023 and no more losses should be made in 2024. “Uniper has been making an essential contribution to stabilizing the gas supply in Germany for months – at the cost of billions in losses that we incur as a result of the lost supply volumes from Russia,” said CEO Klaus-Dieter Maubach. The federal government recognized this and acted consistently. “The top priority for us now is to implement the stabilization package quickly.”
Uniper has gotten into trouble as a result of Russia’s gas supply cuts. The group writes high losses because it has to procure gas on the expensive spot market. The federal government has launched a rescue package together with the parent company Fortum. It provides for the German state to support Uniper with a total of 15 billion euros and to take a 30 percent stake in Uniper. In addition, Uniper and other gas importers can use the planned gas surcharge from October. This should be 2.419 cents per kilowatt hour. Since the EU Commission has rejected Germany’s request to be allowed to omit value added tax from the gas surcharge, households could face even more costs.