In the News

Energy Crisis - Germany nationalises energy giant Uniper

Graham Watson

21st September 2022

The German government has taken the drastic step of taking a 98% stake in Uniper, effectively nationalising it via a Euro 29 billion bail-out. The firm is one of the country's biggest gas suppliers and is also in negotiations with another, VNG.

Because of Germany's dependence upon Russian gas - it had previously been the largest European importer of gas until the closure of Nordstream 1, and the government has introduced a range of measures designed to reduce energy consumption including a restriction on the temperature to which offices can be heated as well as sought out new sources of gas to ensure that storage facilities are close to full capacity.

Take a look below at what happened almost immediately to their share price!

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

© 2002-2022 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.