World Important for Germany's energy market: Uniper
Hope for gas deliveries holds DAX on recreational course
The German stock market was linked to its previous day development on Wednesday. On Tuesday afternoon, speculation about a scheduled resumption of Russian gas deliveries triggered an euphoria on the stock exchanges. © Fredrik von Erichsen/dpa The DAX is the most important stock index in Germany. Several media had reported that the Russian gas deliveries are expected to be resumed on Thursday after the maintenance work was completed. The Dax noted 0.44 percent higher in the late morning at 13,36
Uniper is the largest German gas importer, its imports come mainly from Russia. In addition to trade, the company with around 11,500 employees and seat in Düsseldorf also operates gas and coal-fired power plants and gas storage.
It was split off by the Eon group in 2016. At Eon, promising business with the networks, energy services and eco-energies remained, but at Uniper the business with fossil energies and with hydropower.
critics spoke of a “Bad Bank” that Eon wanted to get rid of by splitting off. The company name, on the other hand, is supposed to suggest positive things, it is derived from the English words "Unique" and "Performance" - a "unique performance" is to be signaled.
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system -relevant in energy supply
Last year, the group made around 164 billion euros in turnover, setting a loss of 4.1 billion euros. With 78 percent of Finnish energy companies Fortum, the largest shareholder, which in turn belongs to the Finnish state.
More than 100 municipal utilities are customers of Uniper in Germany, and there are also industrial companies. The group is considered to be systematic because of its key function in the energy chain. If Uniper would drop, its customers would have to look for new suppliers at short notice.
That would be an expensive thing in view of the extremely high gas prices on the market - and could lead to serious faults that would also affect consumers. At that time the US bank was spoken of an impending “Lehman Brothers” effect like in 2008 in the financial crisis-at that time the US bank started a crisis that shook the global financial system and became very expensive for countries and taxpayers.
Energy regulator triggers supply guarantee .
Australia's energy regulator has triggered a gas supply guarantee as Victoria faces a gas shortage.Victorian Energy Minister Lily D'ambrosio said the gas supply guarantee was triggered by the Australian Energy Market Operator on Tuesday afternoon, as reserves at a storage facility in the state's southwest dropped to record lows.