Dusseldorf Germany puts together a rescue package of more than 15 billion euros for Uniper. Because the Federal Republic cannot allow the country’s largest gas importer to go bankrupt this winter.
Uniper has become a “plaything” in the Ukraine war, says CEO Klaus-Dieter Maubach. Because large quantities of gas are now missing from Russia, the company has to buy replacements on the market in order to be able to continue supplying. And it is extremely expensive: the price of gas alone has risen by over 600 percent within a year. The company therefore made a loss of 50,000 euros in the first half of the year – per minute. At times it lost more than 100 million euros in one day in August.
The situation on the energy market is tense. And it’s not just Uniper that’s plagued by liquidity problems: Sefe and VNG, the country’s second and third largest gas traders, also have to be rescued by the state. Likewise, more and more smaller energy companies are running out of funds. According to industry circles, more than 20 municipal utilities are already in contact with the federal government about possible financial support.
“It may be that significantly more companies get into trouble and need state aid,” fears Handelsblatt editor Catiana Krapp. These companies could then need large loans, for example, she explains in an interview with Tobias Gürtler.
Top jobs of the day
Find the best jobs now and
be notified by email.
Can the big wave of bankruptcies on the energy market still be stopped? How many companies will the state still have to save – how many will it even be able to save? And what does that mean for consumers? The two discuss all of this in this episode of Handelsblatt Today.
Also: Ukraine has been able to record military successes in recent days. In today’s episode you will hear a comment from International Correspondent Mathias Brüggmann on the situation in the Ukraine war. He explains why Vladimir Putin must now take the risk – and why Ukraine needs Western support now more than ever.
More: Now Putin will mobilize everything – because he is bracing himself against his downfall
We have an exclusive subscription offer for you as a Handelsblatt Today listener: test Handelsblatt Premium for 4 weeks for 1 € and always stay informed about what’s moving the financial markets. More information is available here.
If you have any comments, questions, criticism or praise for this episode, please email us at: [email protected]
From now on we can be reached on WhatsApp, Signal and Telegram on the following number: 01523 – 80 99 427