The energy supplier appeals to the State. Berlin wants to avoid a “Lehman Brothers” gas.
Red alert on the gas supply in Germany. The German fossil fuel giant, Uniper, announced on Wednesday evening that it had appealed to the government not to sink. The supplier and leading gas storage manager across the Rhine has been hit hard by the drop in volumes sent by the Russian gas giant, Gazprom.
Read alsoRussian gas alert: Germany turns to coal
Uniper receives only 40 % of the cubic meters provided for in the long -term contract with its Russian counterpart. To continue to supply its customers, both industrial and private, it must buy the missing quantities on the short-term market, where prices are soaring. Without being able at this stage to pass the additional cost on its customers, which endangers it. This additional cost is estimated by UBS analysts at 400 million euros for the first six months of the year, and could reach 1 billion euros over the year if the situation continues.
Uniper has suspended its financial targets for 2022. “The duration and scope of supply restrictions…
This article is for subscribers only. You have 70% left to discover.
Cultivating your freedom is cultivating your curiosity.
Keep reading your article for €0.99 for the first month
Already subscribed? Login