Despite the planned nationalization of the gas importer Uniper, the German federal government intends to maintain, for the time being, the gas billing instrument. The announcement was made by Federal Minister of Economy Robert Habeck (Greens) on Wednesday morning in Berlin. The fee is needed as a bridge to ensure Uniper’s financial strength, Habeck said. It should therefore be introduced as planned on October 1st.
The gas surcharge is intended to support gas importers facing problems due to high purchase prices for Russian gas. The surcharge for all gas users is currently set at around 2.4 cents per kilowatt-hour. According to the current situation, the first advance payments must go to companies at least in November.
“Legally Safe Way”
Habeck stressed that the government found a “legally safe way” to “push so-called free riders off the board”. What is meant are the improvements that Habeck had promised to the gas tax after it became known that companies that make a profit and are not in need could also benefit from the gas tax.
With the nationalization of Uniper, now officially announced, however, a situation has arisen for the surcharge that needs to be analyzed, explained Habeck.
Whether the surcharge can still be levied under the Constitution when Uniper is a state-owned company is a legitimate question, the minister explained. Audits of the financial constitution were in full swing. Implementing Uniper’s planned nationalization will take at least three months, Habeck explained.
99 percent share
The Economy Minister had previously confirmed Uniper’s announcement that Germany would take over about 99% of the company. 93 percent of the company would result from a capital increase worth around 8 billion euros. The state will take over six percent of the previous shareholder Fortum for a value of 480 million euros, explained Habeck. This makes a total share of 99%.
The federal government takeover also includes the replacement of a Fortum line of credit. This is a €4 billion shareholder loan and a so-called €4 billion guarantee line.
However, the new budget funds have not yet been paid, assured Habeck, referring to the three-month transition period until the nationalization was completed. On the need for the measure, the Minister of Economy said: “This measure became necessary because the situation has changed significantly since the Federal Chancellor’s announcement on July 22, it has even worsened”. Chancellor Scholz announced on July 22 that the state had to save Uniper.
Ensuring security of supply
Since then, the situation for the group, on which 40% of Germany’s gas supply depends, “has become much more dramatic,” Habeck said. With the acquisition of Uniper, the German government made the decision to guarantee security of supply in Germany.
Habeck also pledged support to other major gas importers if needed. “As we are showing, the State will do everything necessary to keep the company stable in the market”, said Habeck. “This applies to Uniper. This applies to other large, systemically important companies in Germany.”
There were positive reactions to the minister’s announcements, but there were also warnings. The Verdi union expressed its satisfaction with the change. “Purchasing by the federal government is necessary to ensure security of supply and is in the interests of employees,” said federal council member Christoph Schmitz.
The environmental association BUND warned that, after the acquisition of Uniper, the State would have to ensure that the group’s orientation changed in favor of renewable energies. The state must guarantee a “rapid decarbonization” and make the company a “relevant player in the energy transition”, explained BUND president Olaf Bandt.