francine: how should we look at uniper? it suffered a huge loss.s also been taken over by the government. does it show how much these companies are hurt bing? >> a 17 billion bailout from the government. its forecast -- a negative result for the year 2022. it is still a long way for the company to recover. the energy crisis in germany and europe as a whole. francine: thank you. uniliper, and the energy crisis hurting. at the moment traders are wagering a 200 basis points boerate hike by may. this is about -- you look at what we're expecting, a 1,500 basis point hike until the end of 2022. pretty big compared to what we were expecting two weeks ago. everyone who cared about the climate issue wanted to convince including bill gates. not just getting manchin to change his mind but adding key piecees into the bill. >> i will say it is one of the happier moments of my climate work. i have two things that excite me about my climate. one is when policy gets done well and this is by far the biggest moment like that. francine: joining us now to talk about t

end up in a debt hole, anti-russian sanctions have hit and in germany, the german energy company uniperspublished a report for the first half of the year according to him because of cuts in gas supplies. the firm has lost over 12 billion euros vice chancellor. robert habib worked out plans to save gas for the winter, an offer close to spartan conditions. now in public places, the germans. they can only wash their hands with cold water. lighting will be turned off at the monuments , and the temperature regime will be checked in offices. in buildings , the heating of so-called common areas where people do not live should be prohibited. this applies to the corridors of dining rooms and so on growth, in the center. its the same you are the swedes according to the account experts. pro energy increased by 400%. at the same time, food sales in the country fell by 6%, all due to a sharp increase in cost, the purchasing power of the swedes decreased natalya goncharova news. the ministry of defense today showed footage of the work of russian sappers and radio communications specialists who perform

this is the picture we have been watching strong reaction today in uniper.has been a very challenging year for the german utilities. germany's lindner is not in fae favor of the taxing excessive profits. he was worried it would open the tax system to arbitrariness. clearly, it is not a path that germany wants to go down as well >>> and aramco posted the highest profit since going public three years ago coming in at $48.4 billion a 90% increase on the year and more than $2 billion above expectations the number comes with the soaring prices and increased refining measures. a quick picture for the major oil makers today in europe you see it is a mixed bag. shell down .80%. bp up .20%. the picture has been positive in general for all of the oil companies posting record quarter on back of sky rocketing oil prices you can see there is somewhat of a moderation brent trading weaker wti down as well let's get to hadley who has been looking at numbers another bumper quarter for an oil company. what was interesting is they are looking to payout $19 billion in dividends

loaded poland transit now germany is forced to reconsider its plans and on the dekabanization of the uniper company announced that it will resume operation of the coal-fired power plant in the city of pietershagens on august 29, in order to maintain the level of electricity generation against the backdrop of a reduction in russian gas supplies, the power plant will operate at least up to 20 to 23 years in april. and then this period. may be extended earlier, the german authorities set a goal to abandon i for electricity production by 2030, but now the country is forced to increase imports. i am i believe that to become independent of russian gas. we can at best by the end of next year. that is, while all the risks associated with supplies and security remain, but there is also a second aspect. this is the price of russian gas. it has always been cheap, and the supplies that will replace it will be much more expensive and therefore the competitiveness of many energy companies in germany is reduced, given this trend. i believe that germany will lag behind other eurozone countries for the next

people like uniper are forced to turn to the government for compensation in order to avoid bankruptcyrding to preliminary estimates, between october this year and april 2024. they will receive less than 32 billion euros in profits. it is noted that in the future the figures can be adjusted upwards to compensate these losses, the german authorities adopted a special energy tax in the amount of two eurocents per kilowatt-hour, which will in favor of the gas companies, it will have to be paid by the end consumers, who have already faced the growth of tariffs. we are now really in a very difficult position of gas prices. in germany, they have risen rapidly and soon this will affect the pocket of consumers after the introduction of a new tax, the cost will be passed on to citizens. in addition, we have ambitious energy saving targets. and although now the storage facilities are quite full, you need to understand that this amount will be enough, roughly speaking, for 2-3 months . consumption shortage of gas in europe due to the reduction of supplies via nord stream this summer. they have fa

german company uniper was on the verge of bankruptcy after a loss of 12 billion euros in the first half debt exceeded 2 billion. this is the loss the company received due to the inability to return the funds invested in the construction of nord stream 2 and unsuccessful attempts to sell the assets of a unipro subsidiary in order to finally leave the russian market. the german energy concern, its main activity is the production of electricity in europe and russia as well as a wide portfolio of gas assets, given the size of the company, steadily, growing gas prices in europe, many analysts expect that other players in the world energy market may have similar problems, but a monument to muslim magomayev has been opened in baku. today, the outstanding artist, singer-songwriter, would have turned 80, he received all the allied fame in the sixties, he trained in milan. la scala performed on the stages of many countries at the age of 31. already received the title of people's artist on how the memory of magomayev is kept in his native side dmitry castro i love good music , regardless of the ge

people like uniper are forced to turn to the government for compensation, in order to avoid bankruptcyrding to preliminary estimates, between october this year and april 2024. they will receive less, 32. billion euro profits, it is noted that in the future the figures can be adjusted upwards to compensate these losses the german authorities have adopted a special energy tax in the amount of two eurocents per kilowatt-hour, which will be distributed in favor of gas companies. end consumers who have already faced rising tariffs will have to pay it. we are now really in a very difficult position of gas prices. in germany , they have risen rapidly and soon this will affect the pocket of consumers after the introduction of a new tax, the cost will be passed on to citizens. in addition, we have ambitious energy saving targets. and though there's enough storage now filled, you need to understand that this amount will be enough, roughly speaking, for 2-3 months of consumption . the lack of gas in europe is due to the reduction in supplies via nord stream this summer. they have fallen to 20% of

petersburg is trying to maximize stocks before winter and unipeer is again launching a backup heidenicity this winter . the test will work until april next year. . however, now the country is increasing its imports. this was the news of the economy in short. i am glad to welcome everyone who joined us on the air, the fifth studio is the studio where we traditionally we have the opportunity not only to discuss all the events taking place in the country and the world, but also to talk with them with our experts, hear their assessments and ask questions that interest us. today. moscow says goodbye to daria dugina. however , he says goodbye to her, of ​​course, and not only moscow , words of condolence come from various cities. and the countries of the world, of course, i remember daria dugina and they talk in the donbass, they talk a lot about her, as a person who is not indifferent, as well as a real fighter who, in fact, with all her work with all his activities throughout his, alas, very short life, he tried to bring peace to this and the long-suffering earth with us. in touch. now n

germany now forced to reconsider its decarbonisation plans uniper announced it would reopen its coal-fired power plant in the city of petershagens on august 29 to maintain electricity generation levels amid cuts in russian gas supplies, the plant will operate at least until 20 to 23 years in april. and in the future this period. may be extended earlier, the german authorities set a goal to abandon coal for electricity generation by 2030. however, now the country is forced to increase imports. i believe that to become independent of russian gas. at best, we will be able to by the end of next year. that is, for the time being, all the risks associated with supplies and security remain, but there is also a second aspect: the price of russian gas. it has always been cheap, and the supply that will replace it will be much more expensive and therefore the competitiveness of many energy companies in germany is declining, given this trend. i believe that germany will lag behind other eurozone countries for the next 2 years. despite the energy crisis in europe, ukraine is proposing to confiscate tr

so today the german uniper is launching a backup coal test for the vices of the country.ll work on april 30, if this year, but if necessary, the period can be extended. so far, in fact, the entire green agenda in the eu has been put on hold. they openly admit there, we are taking a huge step back. we return to coal generation. but this is, as it were, a temporary measure, but how far they have returned to coal, here, of course, it is difficult, because before that they literally told their villages that coal was some kind of outgoing fuel. and then it turns out that coal, not leaving fuel, but quite the basis of the energy balance, may be. the net profit of chinese oil chemical company senapik in the first half of the year exceeded 43.5 billion yuan, or about billion rubles this is almost 10.5% more. compared to a year earlier, while revenue increased by almost a third, the growth in world energy prices and the recovery in demand after the pandemic affected. and let me remind you of the completion of the issue, exchange rates, the dollar is 60 rubles. 9 kop. euro 59 87 an

they have estimated an additional 13 billion euros to extend the lifeline for uniper.his is leading to losses of more than 100 million euros a day. lawyers for elon musk and twitter are meeting with the social media platform's whistleblower. both sides are collecting testimony ahead of a trial. one mosque is looking to cancel his $44 billion buyout of -- elon musk is looking to cancel his $44 billion buyout of twitter. tom: thank. the eu leaders plan with confidence for the power market. what details next. this is bloomberg. ♪ tom: welcome back to the open. we are 23 minutes into european trading day. futures in the u.s. up by 0.5%. the european union is preparing to step into its energy markets. commission president ursula von der leyen says short-term intervention will dampen shoring -- soaring power costs. >> we are going to have to reform the electricity market. gas dominates the price of the electricity market. there are different sources of energy, but gas dominates and the markets will pay. that is what has been for a long time. they're going to have to decouple

the renewable energy sector also let down, the german uniper had a problem due to the consequences ofnti-russian sanctions, it suffered losses of more than 12 billion euros, and even needed 15 billion euros from the state to buy much more expensive gas, commenting on deplorable financial results, the head of the company said that uniper has become a pawn in political games and in this losses will only increase. as a result, the company's shares went into deep minuses, as in general, european stock indices are afraid of noticeable deterioration in the economy, and ordinary residents of ger. they called him a traitor to the people and demanded his resignation without allowing the meeting to be held calmly. in the ryazan region, the authorities prepared transport for the possible evacuation of residents of another village, which is threatened by natural fires, a mobile group of the ministry of emergency situations was sent there; an emergency regime was introduced on the territory of the region. in two more areas. the wind changed direction and the fire intensified; airmobile group of re

uniper in germany is already looking for financial support from the government because of their supplyacts. and other companies are exposed to the gas transit. some industrial companies were able to rise higher gas prices, but it cannot last forever. given the time, there will be a demand disruption. that will affect different companies. francine: angelina valavina, head of emea natural resources and commodities at fitch ratings. coming up, we speak with the council of the international energy agency and we focus on the capacity to withstand a winter of unreliable gas supplies. that interview is next and this is bloomberg. ♪ francine: welcome back to the open. 42 minutes to european trading day and we are holding onto gains a little more flat. we have a view from the people writing in, why not take the opportunity to hike 100 basis points in september to get it done for the fed? as the winter draws near, european governments are working to reduce the reliance on russian gas. the ukraine war has exposed the continent and germany to its reliance on russian energy. annegret groebel, presi

a severe slowdown in the german economy and the chances of a recession, the german energy concern uniperbuyer of gazprom, received billions of dollars in losses due to the reduction in supplies from russia in the first half of the year, the loss amounted to 12 billion euros, and the company's net debt rose to 2 billion. against this backdrop, germany decided to bet on nuclear generation. she intends to postpone the closure of the last three nuclear power plants in order to at least partially compensate for the lack of energy in the coming winter , what is really happening now is recovery, buried in environmental debate projects. that is, if earlier it was fundamentally important for the european union to comply with interrelated regulations to reduce co2 emissions and reduce the carbon footprint, now restoration and canning is starting. with many projects, among other things, germany plans to actively purchase liquefied natural gas. she committed her company to fully exploit the capacity of the two existing lng terminals. this means that fuel will be purchased on the world market at almo

so today the german uniper is launching a back-up coal test. in the east of the country.the next year, but if necessary, the period can be extended until virtually the entire green surface is paused. they openly admit that they do. we are taking a huge step back. we return to coal generation. but it's like a temporary no. but how far they've gone back to the corners here is tricky, because they've literally been telling decades before that coal is the outgoing fuel. and then it turns out that coal is not an outgoing fuel. quite the basics of energy balance. maybe well, let me remind you of the completion of the issue, exchange rates, the dollar is 60 rubles. 9 kop. euro 59 87 and that's all for now. roman a. no thanks, we continue. now about how the offensive of the allied forces in the marinka area is progressing, fighting sums are being paid into captivity , they say they are not allowed to retreat. our war correspondent alexander sladkov is working on the front line, the so-called barrier detachments from among the nationalists, russian troops are storming marinka on t

europe, is suffering multibillion-dollar losses due to supply cuts german energy companies such as uniper forced to turn to the government for compensation to avoid bankruptcy, according to preliminary calculations, between october of this year and april 2024. they will receive less 32 billion euros of profit, it is noted that in the future the figures can be adjusted upwards, in order to compensate for these losses, the german authorities have adopted a special energy tax in the amount of two euro cents per kwh, which will be distributed in favor of gas companies , end consumers will have to pay it, which are already faced with rising tariffs. we are now really in a very difficult position of gas prices. in germany, they have risen rapidly and soon this will affect the pocket of consumers after the introduction new tax cost will be passed on to citizens. in addition, we have ambitious savings targets. and although now the storage is quite full, you need to understand that this amount will be enough, roughly speaking, for 2-3 months of consumption , the shortage of gas in europe is due to

per natural gas contract amid the scramble, uniper, the bigger power producer in germany, is restarting a coal fired power plant to produce ele electricity for the market germany promised to end nuclear power by the end of the decade, but the reliance on coal is bitter but necessary joining us now is the associate director of research at rbc capital marnkets b biraj borkhataria, you talked about the shutdown and demand hit. you talked about a potential 20% demand destruction that would be necessary to have the supplies needed for winter. talk to us about what that would mean that is one out of five power days effectively going offline in germany >> europe has exhausted all measures it has. you are taking as much lng as you can get. you have fuel switching and so on it comes down to demand reduction. that 20% figure we highlighted is realistic i think actually the worst case could be higher than that. you will see industry likely to take the brunt of that also consumers and businesses will naturally see demand come down because pricing will be so high and that forces the demand destructi

europe, suffers multibillion-dollar losses due to reduced supplies, german energy companies such as uniper forced to turn to the government for compensation in order to avoid bankruptcies, according to preliminary estimates, from october of this year to april 2024. they will receive less than 32 billion euros of profit. kwh, which will be distributed in favor of gas companies, it will have to be paid by end consumers, who have already faced an increase in tariffs . we are really in a very difficult time right now. gas price position. in germany, they rose rapidly and soon. this will affect the pocket of consumers after the introduction of a new tax, the cost will be passed on to citizens. in addition, we have ambitious savings targets. energy and although now the storage facilities are quite full, you need to understand that this amount will be enough, roughly speaking, for 2-3 months of consumption , the shortage of gas in europe is due to the reduction in supplies via nord stream this summer. they have fallen to 20% of the maximum volume on the operation of the pipeline, hampered by west

so today the german uniper is launching a backup coal test on the country's avastok.y, the period can be extended. so far, in fact, the entire green agenda in the union has been paused. they openly confess. yes, we are taking a huge step back. we return to coal generation. but this is, as it were, a temporary measure, but to what extent they returned to coal, of course, it is difficult here, because they had literally been were told that coal is something outgoing fuel. and then it turns out that coal is not outgoing fuel. a quite the basics of the energy balance, perhaps completion of the issue, let me remind you, the dollar exchange rate is 60 rubles. nine kop. euro, 59 87 and by now i have everything roman anya thank you we continue the north atlantic alliance has lost its newest flagship and the aircraft carrier of the british navy prince of wales is out of order in the english coast the ship was heading for a joint military exercise in the united states however, as soon as it sailed, it encountered a serious technical malfunction, then, as if the incident was com

and this is against the backdrop of the consequences of anti-russian sanctions today about losses, unipernly for six months. it lost over 12 billion euros the lion's share from this amount due to the fact that gas had to be bought at exchange prices. after all, deliveries from russia have seriously decreased in berlin is skeptical that underground gas storage pants will be able to fill up to 95%, so who ascribes eu regulations, bloomberg reports if the flow of russian gas completely dries up germany will remain fuel in less than 3 months markets fever on the eve of stock exchange gas prices in europe have accumulated to 2.600 dollars per thousand cubic meters in gazprom warn this is not the limit according to conservative estimates, if the trend continues in winter, prices will exceed the level of 4,000 euros per 1,000 m³. the largest aluminum producer in slovakia, the slovak plant, has stopped production since september, the reason for the high electricity tariffs, according to the slovak gazeta pravda, european customers are offered to continue buying aluminum in russia and china, while

the energy company uniper alone, for the first half of this year, estimated a net loss of 12 billioning the state for rescue, which is why the authorities have introduced a gas tax, it is planned to collect about 34 billion euros from german households to help the giants. if they can pay it, despite the fact that inflation in the country continues to grow and may rise above ten percent in the fall. however, the chancellor obviously will not save, mr. chancellor, the government urges to take a shower less often , i know how often you take a shower every day. how much most citizens earn can only be answered, right? open doors not only parents with children came to his residence, whom he clumsily tried to cheer up and calm down, determined ladies, baring their chests, demanded decisive measures from schulz to abandon russian gas . why no one thought about diversifying deliveries in germany in advance, the chancellor had to justify himself at the beginning of next year. we can hope to launch pipelines to import gas from the uk to norway, we will solve the problem of energy security, but

those problems that lie on the shoulders of the russian federation will fall on the shoulders of unipere not interested in this in the deepest way. well, here, the comrade speaks and speaks. yes, you were absolutely right. and that's all you suspected, what did you suspect us of? was everything true? i probably left . what more proof do you need heating season? returning to the terrible crime that we all discussed today, in fact , the murderer, who left estonia a long time ago and here in social networks they say that she appeared escorting two women already in an austrian hotel. i'm actually going to be hard to hide her photo in almost every international tabloid now. i think that in general, in the near future, he will most likely be liquidated by the special services of ukraine and it is safest to return to russia, and at least. here, the truth is pure, however, they will kill her so that she does not tell who ordered it. yes, it's scary. in this, of course, the context is also that the child has officially disowned of this crime in all the photographs that were published with differ

that has already begun, germany is not waiting, most likely, now we are talking about the company uniperot to wash, not to shave, to give up something. they will not save the german industry. we are talking about the industry correctly , this is all in fact, the government is simply showing its amateurism, that is, no real measures. eh, they can't do it. e. it just appears somewhere in the media with some populist statements. let's wash less. let's drown less and so on. that is, essentially. uh, the government signs its own inability. something really to oppose the crisis, that is, nothing concrete to save german industry in order to prevent uh, collapse, uh in the winter and heating and power supply. so far, they have not been able to provide anything, which is why there are various kinds of various kinds of pohuist statements, we say. uh, there we will reduce consumption by 13-15%, stop the escalators, put out the shop windows. and it seems like everything will be fine, that is, these statements go entirely to the townsfolk, but the german german industry. they are, of course, not capa

peak electricity prices, were carried out by the estonian media on the largest german energy company unipern euros, but nord stream-2 berlin still stubbornly does not launch. the alternative is how robert habik described the new gaz fee there can be no alternative now, so the minister of economics justified this new high cost shock for all of us. germany had a model largely based on dependence on russian gas and as a result of president putin sometimes we have to accept and the bitter pill part of that is that we have to bail out companies in trouble also that we have to announce a gas consumption levy today. this is due to the fact that the president of russia has interrupted gas supplies gas prices. within a few months. soared to unimaginable heights, which led to an increase in inflation. we'll all have to tighten our belts, as the latest research shows, taking a cold shower. you will not only save electricity and gas, but also protect yourself from the infection of fatigue and depression take a cold shower. it takes 3 minutes twice a day. highly recommended by experts. yes , the average