On Tuesday 20 December, the European Commission approved the German government’s plan to nationalise the gas group Uniper, which has been suffocated by the end of Russian supplies, as well as the German subsidiary of the Russian giant Gazprom (see other news).
This green light is given, subject to conditions.
Uniper will have to divest parts of its business, which account for a significant proportion of its revenues, including the Datteln 4 power plant in Germany, the Gönyu power plant in Hungary and a number of international subsidiaries. Uniper also has to release some of its gas storage and pipeline capacity reservations, making them available to competitors.
Furthermore, Germany has committed to develop a credible exit strategy by the end of 2023, with the aim of reducing its stake in Uniper to no more than 25% plus one share by the end of 2028.
The German government had unveiled in September a rescue plan of more than €30 billion for Uniper, involving a nationalisation of this energy supplier which was the largest importer of gas in Germany.
The majority shareholder, the Finnish Fortum, gave its agreement at the end of September, after tough negotiations. A final agreement was even signed on 19 December between the two companies and the German government.
Link to the Case: https://aeur.eu/f/4qy (Original version in French by Lionel Changeur)