Germany Ready to Up Uniper Aid to €60 Billion in Worst Case
- Bailout would balloon if gas prices stay high for two years
- Uniper will be fully nationalized by the end of the year
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Germany is preparing for a worst-case scenario in which it needs to double financial aid to Uniper SE, the nation’s biggest gas supplier, to €60 billion.
Uniper’s financial situation is worsening with an expected adjusted net loss of €3.2 billion ($3.2 billion) for the first nine months of the year as it buys more expensive wholesale gas to meet supply contracts after Moscow cut flows. Prices would have to stay high for two years for the shortfall to hit the government’s maximum projection, according to people familiar with the matter.