Tag: Uniper
Fortum signed the final Uniper sales agreement
The German state will pay Fortum approximately EUR 500 million for its majority stake in the gas company Uniper.
Fortum announced a profit of 421 million euros amid the turmoil in the energy market
The rise in electricity prices led to a strong quarter for Fortum, but the losses caused by Uniper’s ordeal were not reflected in the numbers.
Climate summary: Could Denmark soon have a new Swedish nuclear power plant as a neighbour?
Plans to build a new nuclear power plant near the decommissioned Barsebäck nuclear power plant are taking shape in Skåne in southern Sweden – an area just over 20 km across the Øresund from Copenhagen. For decades, the Danish government tirelessly campaigned for its closure due to its proximity to Denmark. But now it appears […]
The opposition parties challenge the government’s energy policy, vote of confidence on Friday
The prime minister came under fire because he did not interrupt his summer vacation to resolve the Uniper crisis, among other things.
The Finnish government responds to the interpellation regarding energy policy
“We are facing an energy crisis, and you, the government, are not on top of the situation.” Riikka PurraChairman of Basic Finns, According to Helsingin Sanomat. Purra criticizes the government in particular for building its energy policy on wind power: “I wonder if the vision is that every night employees should look at the wind […]
Uutissuomalainen: The Minister of Finance invited Uniper to a meeting, the Prime Minister did not attend
According to the media, Finance Minister Annika Saarikko (Cen) proposed a board meeting in July to discuss the problems of Fortum’s subsidiary, but the meeting was not organized.
On screens in August • Familiar ring: evidence that hasn’t changed much in a decade
Not much has changed substantively over the past decade. Just take a look at the line-up that greeted viewers in 2012 and compare it to the class of 2022. The only difference is that the blockbusters are headed straight for our homes. Same shit, different decade First we had The Hobbit, the first serious Middle […]
Fortum’s subsidiary Uniper’s net loss for the first half of 2022 was 12 billion euros
According to IFRS (International Financial Reporting Standards), Uniper, the German subsidiary of the majority-owned Finnish energy company Fortum, has reported a net loss of more than 12 billion euros for the first half of 2022. The company said in a press release published on Wednesday that the collapse in results was mainly due to the […]
The new ban can significantly slow down Fortum’s withdrawal from Russia
President of Russia Vladimir Putin signed a declaration last Friday that can prevent the sale of Finnish energy company Fortum’s Russian operations for a long time. The decree prohibits communities "unfriendly countries" trading in shares of companies operating in the Russian financial or energy sector. In practice, it temporarily prevents the sale of companies Jaana […]
YLE: The support of the coalition is still exceptionally high
“Kokooma’s support is still at an exceptionally high level,” he summed up Tuomo TurjaResearch Director of Economic Studies. He noted that the party has recently polled at a level not seen since the 2011 parliamentary elections, which marked a shift from a political landscape dominated by three parties to one dominated by four medium-sized parties. […]
Yle’s survey: NCP again in the lead, the center loses to SDP and Perussuomalai
The main opposition party (NCP) was still the most popular party in Finland last month with a 23.4 percent position, according to Yle’s monthly survey published on Thursday. Tuomo TurjaThe director of economic research told Yle that the party’s support is still there "unusually high" in July, noting that the last time a similar number […]
The share prices of Fortum and Uniper continue to fall due to the rescue package news
Energy company Fortum’s share price continued to fall on Monday after the opening of the Helsinki Stock Exchange. The stock fell about seven percent in afternoon trade. The share of Fortum’s German subsidiary Uniper, meanwhile, was down more than nine percent on the Frankfurt stock exchange. The share prices of the two companies fell on […]
Tuppurainen: The agreement on the stabilization of Uniper is the best possible
Fortum on Friday was revealed that the nearly 15 billion euro stability package consists of three core parts. The German state will take a 30 percent stake in the troubled energy company by subscribing to approximately 157 million new shares with a nominal value of 1.7 euros per share. Germany also promised to provide the […]
Fortum: Germany buys 30% of Uniper
Finnish state energy company Fortum confirmed on Friday that it has agreed in principle to a deal in which Germany will bail out its subsidiary Uniper, Germany’s largest natural gas producer. Uniper has been struggling for months due to sanctions imposed on Russia and price increases for gas from other sources. To keep the company […]
UPM makes record results, Nokia and Wärtsilä are also strong
More large Finnish companies announced brisk second quarter sales on Thursday. The comparable operating profit of Nokia, which manufactures wireless and fixed network equipment, was 714 million euros in April-June, compared to 682 million euros in the same period last year. Turnover rose to 5.87 billion euros in the second quarter, compared to 5.31 billion […]
Media: Germany accepts Uniper’s rescue package
According to various media, the negotiations regarding the German energy company Uniper, which is a subsidiary of the majority-owned energy company Fortum of the Finnish state, which is in financial difficulties, are approaching a solution. The Finnish government, the German government, Uniper and Fortum have been involved in negotiations and discussions about possible rescue solutions […]
Fortum will not invest more capital in Uniper, Finland’s central goal, Tuppurainen says
Tuppurainen spoke to the media in connection with his hearing that lasted more than two hours in the parliament’s trade committee. He did not comment on how the negotiations have progressed and what a possible agreement might look like, and reiterated that the negotiations are still at a sensitive stage. He added that committee members […]
The Board of Trade asks Tuppurai about the Uniper crisis
Finland’s Minister of Ownership Titti Tuppurainen (SDP) arrived in front of the parliament’s trade committee on Tuesday afternoon to discuss the ongoing negotiations with Germany regarding the financially troubled German gas importer Uniper. Fortum, which is majority-owned by the Finnish state, acquired the majority of the German energy giant in 2019. Currently, Fortum owns 78 […]
The Finnish-German discussions about Uniper are still at a sensitive stage, Tuppurainen says
He added that the situation will be analyzed with the authorities of the owner control department later on Monday. The Finnish government is involved in the negotiations because it has a 51 percent ownership stake in Fortum. Fortum, on the other hand, owns 78 percent of Uniper’s shares. Saving the ailing energy company could thus […]
The Trade Committee meets to discuss the Uniper crisis, Purra demands the entire parliament to meet again
Chairman of the Finnish opposition Riikka Purra has called on the parliament to reconvene so that the ministers can explain the risks related to Uniper to Finnish taxpayers. The German energy giant, which is in financial difficulties, is a subsidiary of Fortum, which is majority owned by the Finnish state. "Parliament must be convened quickly. […]
YLE: Finland and Germany cannot agree on the fate of Uniper
“The discussions are in an intense and sensitive phase. The discussions have been good and constructive, but there is still a lot of work,” he commented to the Berlin Broadcasting Company. Uniper said last week that it is leaking tens of millions of euros a day because it has had to purchase natural gas from […]
Finnish minister to negotiate with Germany over Uniper
Finland’s Minister of Ownership Steering Titti Tuppurainen (SDP) will travel to Berlin on Thursday over Uniper’s financial difficulties. Tuppurainen is set to meet with German government officials and executives of Fortum and Uniper. Uniper is a subsidiary of the majority-state-owned Finnish energy firm Fortum. Uniper Filed for support from the German government, as it is […]
Finland’s Minister of Ownership is lukewarm about Uniper’s capitalization
Fluffy argued to STT on Sunday that Fortum has shown its commitment to helping the subsidiary survive the natural gas crisis by granting it an eight billion euro credit line, which consists of both a shareholder loan and parent company guarantees. “However, as the majority owner of Fortum, we do not understand how it would […]
The German minister asks Fortum to help save the struggling subsidiary
German Minister of Economy Robert Habeck has criticized the handling of the problems of the Finnish energy company Fortum’s German subsidiary Uniper. In an interview for a German radio station Deutschlandfunk On Saturday, Habeck added that Fortum should participate in the ousting of the struggling gas company. "It [Uniper] belongs to someone, someone who is […]
Energy company Fortum’s subsidiary Uniper applies for state support from Germany
Uniper, a subsidiary of the majority state-owned Finnish energy company Fortum, has applied for support from the German government in accordance with the recently approved energy legislation. Uniper is Germany’s largest gas importer, but it has run into financial difficulties due to restrictions on Russian gas exports. The company said in its press release that […]
Fortum’s planning "supervised exit" From Russia
Finland’s largest energy company, the state-majority Fortum, is preparing to withdraw from Russia in a controlled manner, and the company’s primary option is to sell the company’s Russian operations, the press release said. Markus Rauramomanaging director. The sale of Fortum’s Russian subsidiary Unipro, which was halted due to Russia’s invasion of Ukraine, is expected to […]
Greenpeace activists hung an anti-war flag at the headquarters of the power company Fortum
Greenpeace activists climbed on Wednesday at the energy company’s Fortum headquarters in Espoo to hang a flag urging the state-owned company to end business relations with Russia. The company’s subsidiary, German Uniper, is one of the largest importers of Russian gas to Europe. Fortum, which is almost 51% owned by the Finnish state, is by […]
Fortum writes off EUR 2.1 billion in operating losses in Russia
Finland’s largest energy company Fortum will record losses of more than two billion euros from its operations in Russia during the first three months of this year. According to the company, the losses are due to Russia’s invasion of Ukraine, geopolitical tensions, uncertainty and increased risks. The state-owned state-owned energy company said on Tuesday it […]
Finland does not agree with the gas payment terms set by Russia, Tuppurainen reiterates
Helsingin sanomat newspaper reported yesterday that the stock could lead to a suspension of natural gas supplies due to non-compliance with the payment terms when the next tranche matures, as happened earlier this week for Bulgaria and Poland. Russia has been demanding since the beginning of the month that buyers of natural gas from “unfriendly […]
Fortum confirms its subsidiary Uniper to use the new payment system for Russian gas
The state-owned energy company Fortum has responded to a report that its German subsidiary Uniper believes it is possible to start paying in rubles for natural gas purchased from Russia. According to Fortum, Uniper will continue to pay for Russian gas in euros. The Financial Times said on Thursday that several European energy companies are […]
Russia’s energy sanctions are still in the EU’s toolbox, Tuppurainen says
According to him, Finland is ready to resort to tougher sanctions. “We do not rule out any action. We are ready for tough action,” he said, adding that decisions on sanctions will be made primarily on the basis of an overall assessment that includes an assessment of the effectiveness of existing sanctions. Tuppurainen also commented […]
The Finnish energy giant gave up almost a billion euros in Nord Stream and plans to give up its Russian plants
Finland’s largest energy company Fortum announced on Tuesday that it will take a loss of almost one billion euros from the canceled Nord Stream 2 pipeline project. Its German subsidiary Uniper has a loan to the project company totaling EUR 987 million, including accrued interest. Fortum announced that it would write down its receivables and […]
Fazer and the S Group’s latest Finnish companies are withdrawing from Russia
“We see no solution but to withdraw from Russia” said Christoph VitzthumPresident and CEO of Fazer Group. “Russia’s attack on Ukraine is an aggression with tragic consequences throughout the region. We have a number of stakeholders and serious consequences to consider, which has not allowed us to break out as we would have liked. We […]
Nord Stream 2 files for bankruptcy
The Swiss company behind the DKK 75 billion Nord Stream 2 gas pipeline has filed for bankruptcy and fired all its employees after Western sanctions, according to Swiss radio station SRF. Nord Stream 2 AG, which is owned by the Russian state-owned gas giant Gazprom, is seeking to settle its bankruptcy claims ahead of a […]
Swedish power plants use oil to keep the lights on
A Swedish power plant that is crucial in keeping the country’s lights on used almost eight times more oil last year when the energy crisis increased demand for the dirtiest fuels. It is the latest proof of how the fight against global warming has ended up in the back seat when Europe is facing a […]
Science Round-Up: Proof that dog owners love their pets more than cat owners
Dogs have overtaken cats as Denmark’s most popular pet, according to a study from the University of Copenhagen. About 20 years ago, a study from Statistics Denmark showed that cats were the family’s favorite pet in Denmark. Now 20 and 14 percent of families own dogs and cats, respectively. In real numbers, it is about […]
Fortum Finland’s majority owner in a German electricity company is suing the Dutch government over a coal ban
By 2029, Finland says it will ban the burning of coal for energy production. At the same time, the state-owned energy company Fortum is a majority shareholder in the German fossil fuel company Uniper, which is suing the Netherlands for a similar ban. Last month, Uniper announced it was seeking a court ruling on whether […]
Assassination attempt accused to deny allegations, far-right links
A man accused of murdering a Finnish party aide Pekka Kataja has denied his participation on Wednesday, the second day of trial in the Jyväskylä District Court. The defendant also denied ties to far-right movements and said that his role as a supporter of the Jyväskylä City Councilor Teemu Torsson is exaggerated. Police had previously […]
Prosecutor: The assassination attempt on a party official was a crime that has not been seen in Finland for 90 years
The man went to trial on Tuesday as an accused entrepreneur of murdering an official in the Finnish Party in a politically motivated attack, according to the prosecutor. Prosecutors added that no similar attack has taken place in Finland since the 1930s. At the time, the far-right Lapua movement committed several political acts of violence. […]
Nuclear power research can get a boost – wants to develop a mini-reactor
Two companies and the Royal Institute of Technology are today submitting an application to the Swedish Energy Agency with the hope of developing another type of nuclear power reactor. A smaller variant that can be mass-produced in the factory. Plans to build a new nuclear power reactor in Oskarshamn are now moving forward. Uniper is […]
Police are investigating a new Finnish assassination attempt on suspicion
Finnish police have found a new suspect in an attempted murder of a Finnish party official Pekka Kataja which took place on 17 July. According to the police, the person is registered in the population register of Tuusula in Southern Finland and has not been previously arrested for the incident. "We have evidence that there […]
Jyväskylä: "No trust" the city councilor is suspected of attempted murder
City of Jyväskylä officials said on Monday that the commissioner suspected of attempted murder no longer enjoys their trust. However, a suspect in an attack on a Finnish Party aide earlier this year – a former member of the Finnish Party Teemu Torssonen – he cannot be prevented from performing his duties until he has […]
Two remand prisoners were arrested for assaulting a Finnish party aide
The National Bureau of Investigation (NBI) said on Friday it had arrested two men for an attack in mid-July. Yle recognized one of the men as Jyväskylä City Councilor and member of the Board Teemu Torssonen, which had been expelled from the Finnish Party last May. The police said in a statement that the Central […]
