Owner of seven UK power stations posts £10bn loss

Uniper has said fewer Russian gas deliveries had an “adverse impact” on its first half-year financial results

Big Zero Report 2022

Energy group Uniper, which owns and operates seven power plants in the UK has reported a loss of €12 billion (£10bn) in the first six months of the year.

The owner of the Ratcliffe-on-Soar power station in Nottinghamshire attributed the financial results to its gas business, which has been “adversely” affected by reduced gas deliveries from Russia.

The energy giant said “record negative” earnings for the entire financial year owing to the volatile environment.

In July, Uniper agreed to a €15 billion (£12.7bn) “rescue package” with the German Government taking a 30% share in the company.

Uniper Chief Executive Officer Klaus-Dieter Maubach said: “On 22nd July, the federal government, Uniper and Fortum agreed to a package of measures to stabilise Uniper.

“This will prevent a chain reaction that would do much more damage. Our top priority now is to swiftly implement the stabilisation package.”

Earlier this month, the company warned it might curb output at a key coal-fired power station in Germany due to low Rhine River water levels.

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