EnergyWatch

Uniper hits Q2 net deficit of EUR 9.3bn

Just as expected, the German utility is hit hard by supply commitments forcing natural gas purchases on the wholesale market. State bailout keeps the business floating.

Photo: Ina Fassbender/AFP/Ritzau Scanpix/AFP / AFP

2022 hasn’t been an easy year for many, not least a German power company highly reliant on Russian natural gas supply.

It thus comes as little surprise that Uniper reports poor performance and results written in red after previously downgrading its full-year earnings guidance last quarter and getting a bailout from Berlin to keep the wheels turning.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted makes group changes again

The Danish power company shakes up its organization once again, now parting ways with offshore wind chief of many years, while also moving other profiles up the corporate ladder.

Ørsted declines Taiwan tender bid

Quite atypically, the Danish market leader publicly rejects to bid in Taiwan’s solicitation for 3GW offshore wind due to poor framework conditions. The green transformation will wilt if developers build uneconomic projects, says CEO.

Last platform now in position at Tyra site

After completing the voyage from Batam, Indonesia, the process module is now in position in the North Sea. Only one piece is now missing from the reconstruction project at the Tyra site.

Further reading

Related articles

Latest News

See all jobs