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    UN01   DE000UNSE018

UNIPER SE

(UN01)
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Real-time Estimate Tradegate  -  06:55 2022-08-18 am EDT
6.550 EUR   -3.82%
06:34aGermany to lower sales tax on gas to 7% in bid to relieve consumers
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05:53aGerman gas storage levy set at 0.59 cents per MWH
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Curve lifted by gas market uncertainty

07/05/2022 | 05:22am EDT
FILE PHOTO: Steam rises from the cooling towers of the coal power plant of RWE in Niederaussem

FRANKFURT (Reuters) - European power curve prices increased on Tuesday on uncertainty about gas supplies from Russia.

The latest rises, with a risk of further increases, follow news that Germany is preparing to buy stakes in energy companies struggling with soaring prices of imported gas.

"The (Dutch) TTF gas price continues to provide upside risk," said Refinitiv analysts.[NG/GB]

The German government will be able to buy stakes in companies buckling under the strain of paying gas import prices, according to draft legislation seen by Reuters.

The government wants to prevent market damage as companies are squeezed between expensive spot gas and under-supply from inexpensive long-term contracts that are not being met by Russia amid east-west confrontations over war in Ukraine and sanctions.

One such German company, Uniper, said last week that sale of a stake to the government was among options that it was discussing.

German year-ahead baseload power was at 326 euros ($337.57) per megawatt hour (MWh) at 0815GMT on Tuesday, up 1.2% but below Monday's contract high of 328 euros, while the equivalent French contract did not trade after closing on Monday at 392 euros.

French monthly supply in September hit a record 425 euros, up 2.4%.

The gas market fears possible long-term disruptions after maintenance on the Nord Stream 1 pipeline is completed after a routine closure over July 11-21. Long-term disruptions would have massive spillover effects across economies.

Regulators are trying to ensure enough gas is bought for storage. They are also supervising the drawing up of priority lists for access to gas.

Flows of Russian gas via Nord Stream 1 and deliveries through Ukraine edged lower on Tuesday.

European CO2 allowances for December 2022 expiry edged 0.2% higher to 84.74 euros a tonne.

Spot power prices showed mixed directions, with Germany's falling because of increased wind supply and French ones up on low reactor availability, just 47.9% of installed capacity. [POWER/FR]

French rector Cruas 4 added one more day to its outage. It is now likely reopen on Wednesday.

German day-ahead baseload was down 5.1% at 304.5 euros and the equivalent French contract was up 6.7% at 400 euros.

The EPEX SPOT bourse said it traded 49.9 terawatt hours in June, up from 47.2 terawatt hours a year earlier.

($1 = 0.9657 euros)

(Reporting by Vera Eckert; Editing by Bradley Perrett)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
UNIPER SE -3.67% 6.575 Delayed Quote.-83.71%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -1.68% 59.4534 Delayed Quote.-17.95%
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Sales 2022 155 B 157 B 157 B
Net income 2022 -4 265 M -4 337 M -4 337 M
Net cash 2022 881 M 896 M 896 M
P/E ratio 2022 -0,67x
Yield 2022 0,93%
Capitalization 2 492 M 2 535 M 2 535 M
EV / Sales 2022 0,01x
EV / Sales 2023 0,02x
Nbr of Employees 11 319
Free-Float 22,0%
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Mean consensus HOLD
Number of Analysts 9
Last Close Price 6,81 €
Average target price 21,38 €
Spread / Average Target 214%
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Klaus-Dieter Maubach Chief Executive Officer
Tiina Marjukka Tuomela Chief Financial Officer
Markus Heikki Erdem Rauramo Chairman-Supervisory Board
David Bryson Chief Operating Officer
Patrick Wolff Chief Compliance Officer & General Counsel
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