7/4, 10:20 PM (Source: TeleTrader)
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Germany could take over parts of energy firms - report

The German government could end up owning stakes in energy companies affected by the ongoing natural gas crisis if legislation it is currently preparing passes, the Financial Times reported on Monday.

Uniper SE, which is Germany's biggest importer of Russian gas, could reportedly be facing a bailout similar to the rescue package Deutsche Lufthansa AG received from the authorities during the pandemic. Moreover, customers would see higher energy bills as gas importing companies would be allowed to pass on costs to consumers and thus elude additional and more serious financial issues.

According to the report, the government's aim is to avoid further damage to the entire domestic market.

Baha Breaking News (BBN) / MS