The government announced its plan to nationalize Uniper in September, expanding state intervention in the power sector to prevent an energy shortage resulting from Russia’s war in
As part of the agreement, the government will gain a nearly 99% stake in the energy supplier, which before now was controlled by
Uniper said its shareholders “approved the proposed capital measures by a large majority” at an extraordinary general meeting on Monday.
“This is a significant step,”
Before the war in
The company has incurred huge costs as a result of those cuts because it was forced to buy gas at far higher market prices to meet its supply contract obligations. Last month, Uniper said it had initiated proceedings to seek damages from
Habeck said the German state doesn't intend to remain the owner of Uniper permanently.
Environmental groups have called on the government to use its stake in the company to steer it away from new fossil fuel projects, such as natural gas projects off the coast of
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