The federal government wants to save the ailing gas importer Uniper with a federal stake worth billions and at the same time make it possible for higher purchase prices for gas to be passed on directly to customers.
The Ministry of Economics informed the Bundestag Committee for Climate Protection and Energy about this before a meeting on Wednesday.
"To cover the accumulated losses, (a) combination of a capital increase with a target federal participation of 30 percent in Uniper and further hybrid equity is planned." In addition, it is assumed that the price will be passed on in accordance with the Energy Security Act.
Final decisions are therefore still pending.
These support measures for Uniper are “under review/negotiation”.
Germany's largest gas importer has come under pressure due to the lack of gas deliveries from Russia.
The company has to replace the reduced volumes with expensive purchases on the gas market, and is making heavy losses as a result.
According to the committee briefing, these “daily accruing losses from replacement purchases” should now be stopped by passing on the price to customers.
According to people familiar with the matter, the bailout could now include an opportunity for Uniper to pass on some costs.
With the Energy Security Act, the Federal Government had created an instrument for controlling the amount of the price passed on with a levy.
More KfW loans
The package must be put together by July 25, otherwise the Düsseldorf group is threatened with even greater liquidity bottlenecks, said people familiar with the process.
According to the committee briefing, the public development bank KfW is to increase its credit line for Uniper from two to eight billion euros, as the company has already exhausted the previous credit line.
Uniper shares increased by almost 13 percent.
How dramatically the situation at Uniper develops also depends on the Nord Stream 1 pipeline.
Insiders had said gas would be piped through these again after their maintenance, albeit on a reduced scale.
Russian President Vladimir Putin warned that capacities could be reduced.
The maintenance is scheduled to end on Thursday.
Uniper had asked the state for help.
State participation and fresh money should prevent Uniper from losing its investment grade rating, insiders said.
The Finnish government is also pushing for a speedy agreement.
It holds a majority stake in the utility Fortum, which in turn holds a majority stake in Uniper.
Fortum boss Markus Rauramo had proposed that the "system-critical German parts of Uniper" related to the gas business be placed under the control of the German state.
In German government circles, however, warnings had been given that the Finns would not cherry-pick.
According to the insiders, this scenario is considered too complex and too long.
Meanwhile, the scramble for a turbine for Nord Stream 1 continued.
The return of the turbine, which was in Canada for maintenance, has a direct impact on the safe operation of the pipeline, said the Russian gas company Gazprom.
However, Siemens has not yet provided any documentation for the reinstallation.
According to media reports, the turbine should now have arrived in Germany.
So far it is not known whether she is on her way to Russia.