EnergyWatch

Uniper heralds Q1 deficit but maintains annual guidance

The German utility’s financial situation is burdened in the short term due to gas market uncertainty, the group writes yet maintains full-year guidance.

Photo: THILO SCHMUELGEN/REUTERS / X03860

Fortum-owned power company Uniper takes a hit from the European gas market situation, now counting on incurring a deficit in this year’s first quarter, the utility writes in a stock exchange announcement.

The loss is mainly attributed to the group’s midstream gas business – particularly that of gas inventories in connection with the current market environment now under heavy pressure being that Western nations are trying to minimize import of Russian fuel in response to the war in Ukraine.

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