Because of high purchase prices: the federal government wants to get into troubled gas importers

Numerous companies are suffering from the high purchase prices for gas.

Because of high purchase prices: the federal government wants to get into troubled gas importers

Numerous companies are suffering from the high purchase prices for gas. The federal government wants to help and buy shares or silent participations more quickly in order to support the companies. But there would be no guarantee of salvation. The utility Uniper had previously asked for help.

According to a draft law, the federal government should be able to invest in companies in the gas crisis, as with the Corona aid. In the case of support measures, the regulations of the Economic Stabilization Act in the 2021 version should apply, according to a draft of the Energy Security Act.

Critical infrastructure companies could be supported by an entry by the federal government via shares or silent participations, i.e. without voting rights. According to the draft, this should be possible even faster than in times of the Corona crisis. Obstacles to rapid federal involvement would be removed in the interests of security of supply.

The paragraph is likely to target the ailing utility Uniper, which has already asked for help. After the cut Russian gas deliveries, he has to buy replacements on the market at high cost, but cannot pass the costs on to his customers with the existing supply contracts. According to the draft, the stabilization of importers through federal aid should also have priority over a possibility anchored in the law to pass on the costs more quickly. The aim of the envisaged stabilization measures is to ensure security of supply and to rescue providers of critical infrastructure. However, this must not happen against the will of the company. An application must therefore be submitted to the Federal Ministry of Economics - and then coordinated with the Ministry of Finance and the Chancellery. There should be no legal entitlement to stabilization measures.

The stabilization measures should give the company a chance to continue to exist. In the draft law, the state is granted numerous simplifications in the event of an engagement, in order to be able to act quickly. For example, the federal government should be released from the obligation to submit a takeover bid to all shareholders as soon as it gains control. Silent contributions would also be possible without the approval of the general meeting. General meetings should also be able to decide that the federal government can purchase new shares with special conditions below the share price.

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