We are now living in decisive moments in the negotiations, because decisions are in a hurry. In its gas business, Uniper makes losses of several tens of millions of euros per day. follows Tuppurainen’s visit on site.
How will Uniper, Germany’s largest gas importer, be saved? What is Uniper’s parent company Fortum’s responsibility in the rescue package and how big is the bill for Finnish taxpayers?
These are the questions to which the Minister of Ownership Titti Tuppurainen (sd.) seeks a solution during his visit to Berlin today. The financial adviser of Tuppurainen and the state’s ownership steering unit have been involved in the negotiations Maija Strandbergin also Fortum, Uniper and the German government.
In Berlin, Tuppurainen will meet, among other things, the minister for special tasks of the German government by Wolfgang Schmidt, State Secretary of the Federal Chancellor’s economic and EU political adviser By Jörg Kukies as well as other representatives of the German government.
So far efforts have been made to find a common understanding, primarily through video and telephone connections. According to Tuppurainen, he has been in “close” contact with the German government even before the visit.
Uniper makes losses of tens of millions of euros daily with its gas operations. Russia has supplied Uniper with only 40 percent of the agreed amount of gas, which is why Uniper has to fetch replacement gas from the market at a clearly more expensive price for its customers. The price of gas has risen more than sevenfold from the level before the Russian attack.
Fortum is The main owner of Uniper, but the companies are both separate listed companies. Their leaders have different views on what should be done to save Uniper from bankruptcy.
Uniper has proposed that the German state become a shareholder. Germany is even planning to take over 30 percent of Uniper.
On the other hand, in Fortum’s proposal, the key businesses for the German energy system would be spun off into a separate company. The German government would take over the company. The detached part could be, for example, the gas and coal business, but hydropower and nuclear power could remain in the “old” Uniper. In this case too, Germany may want to become the owner of the old Uniper.
Tuppurainen has said that he supports Fortum’s model.