Berlin Details about the rescue of the troubled gas trader Uniper are emerging. “To cover the accumulated losses, a combination of a capital increase with a target federal participation of 30 percent in Uniper and further hybrid equity is planned,” says a paper from the Federal Ministry of Economics to the Climate and Energy Committee, which is available to the Handelsblatt.
In addition, the federal government must increase the existing loans from the state KfW development bank from two to eight billion euros in order to provide short-term liquidity for replacement gas purchases or to secure margining positions. Margining are reserves that energy suppliers have to deposit for stock market transactions.
In addition, according to the ministry paper, a price transfer is planned in accordance with the Energy Security Act “in order to stop the daily losses from replacement procurement”.
Government circles expect that the pay-as-you-go method, not the price adjustment clause, will be used. In this way, the increased costs would be passed on to all consumers.
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