Uniper

Uniper SE [ˈjuːnipɚ] is an energy company based in Düsseldorf, Germany. The name of the company is a portmanteau of "unique" and "performance" [1][2] given by long term employee Gregor Recke.[3] Uniper was formed by the separation of E.ON's fossil fuel assets into a separate company that began operating on 1 January 2016.[4] The company employs about 11,000 employees in over 40 countries.[5][6] Around one third of the employees are based in Germany.[7] It owns a subsidiary company in Russia called Unipro. Uniper is listed at the Frankfurt Stock Exchange. Its largest shareholder is the Finnish energy company Fortum with a 75.01% stake.[8] The company has faced criticism for opening new coal fueled power plants in Germany as recently as May 2020.[9]

Uniper SE
TypeSocietas Europaea
FWB: UN01
ISINDE000UNSE018
Industryelectric utility
Founded1 January 2016
Headquarters
Düsseldorf
,
Germany
Area served
Europe
United States
Key people
Andreas Schierenbeck (CEO)
Bernhard Reutersberg (Chairman)
Productselectrical power
natural gas
Revenue78,176,000,000 euro (2018) 
492,000,000 euro (2018) 
Total assets50,605,000,000 euro (2018) 
Number of employees
Around 11,532 (31.12.2019)
ParentFortum (75.01%)
SubsidiariesUnipro

History

The split of the majority of E.ON's 'upstream' electricity generation business from its 'downstream' retail and distribution business was first announced in April 2015.[1] The company became active on 1 January 2016, with 14,000 employees and is expecting an operating profit (EBITDA) of €4 billion.[10][11] Arranged below Uniper SE were the Uniper Beteiligungs GmbH and the Uniper Holding GmbH, the latter functioning as holding company for the operative companies such as the Uniper Kraftwerke GmbH.[4] E.ON eventually only included Swedish nuclear plants in Uniper, due to German government rules aimed at stopping companies avoiding nuclear clean up costs.[12]

In June 2016, the shareholders' meetings of E.ON SE and Uniper SE decided to spin off Uniper from E.ON.[4] It took place through a retrospective transfer of Uniper's business to 195 million new shares created by an increase in noncash capital as of January 1, 2016.[13] It was intended to deconsolidate Uniper from E.ON in the first half of 2017.[4] E.ON sold a 53% stake in the business through a listing on the Frankfurt Stock Exchange on 12 September 2016.[14]

In November 2017, Uniper completed the sale of its stake on the Russian gas field Yuzhno-Russkoye. The Uniper share of 25% was sold for €1.749 million plus the transferred liquid funds to the Austrian OMV Group.[15]

In September 2017, Finnish power company Fortum announced it would buy E.ON's remaining 47% stake in Uniper and make a bid for the other 53% held by other shareholders, valuing Uniper at €8 billion. A takeover bid was submitted on 7 November 2017. E.ON accepted the offer on 8 January 2018.[16] Fortum acquired in total a 47.35% stake. The deal was completed on 26 June 2018, after approval by various authorities.[17]

On 4 July 2019, Uniper and EPH ("Energetický a průmyslový holding a.s.") signed the agreements for the sale of Uniper's activities in France. The scope of transaction includes Uniper's French sales business, two gas-fired power plants in Saint-Avold (Lorraine), two coal-fired power plants in Saint-Avold and Gardanne (Provence), the biomass power plant "Provence 4 Biomasse" in Gardanne and wind and solar power plants.[18]

Operations

Uniper operates in the EU countries Germany, Sweden, the Netherlands, Belgium and Hungary. Outside of the EU it operates in Russia, the United Kingdom, and has offices in the United States, Azerbaijan, Singapore, and the United Arab Emirates.[19] In addition to the fossil fuel power generation assets it owns hydropower and nuclear power assets in Sweden. Together, Fortum and Uniper are running the Oskarshamn nuclear power plant and are both involved in the Forsmark nuclear power plant. Both operate hydropower plants in Sweden.

With 34 GW generating capacities[5] Uniper is one of the largest European electricity producers.[20][21] Uniper Global Commodities SE trades at the spot and futures market for gas, coal, freight, oil, liquefied natural gas and emission rights on different stock markets and on the Over-the-Counter-Market.[15] Uniper Energy Storage GmbH is responsible for gas storage activities in Europe. The Power-to-Gas plants WindGas Falkenhagen and WindGas Hamburg store renewable energy in the form of electricity, gas or heat. Through electrolyze the gained wind energy is transformed in hydrogen and fed in the local gas network.[22] The Uniper Energy Storage GmbH operates gas storages with capacity of 9 billion cubic metres (3.2×1011 cubic feet) in Germany, Austria and the United Kingdom.[7]

List of Power Stations of Uniper outside Germany (for Power Stations in Germany see de:Uniper Kraftwerke):

Location Energy source Power Notes
Connah's Quay Natural gas 1380 MW
Cottam Natural gas 395 MW
Isle of Grain Natural gas 1275 MW
Enfield Natural gas 408 MW
Killingholme Natural gas 600 MW
Taylors Lane (Willesden) Oil 132 MW
Ratcliffe-on-Soar Power Station Coal 2000 MW
Nuclear power plant Oskarshamn Nuclear energy 2308 MW 54,4% share
Nuclear power plant Ringhals Nuclear energy 3820 MW 29,6% share
Nuclear power plant Forsmark Nuclear energy 3157 MW 8,5% share
Maasvlakte Coal 2180 MW
Rotterdam Natural gas 269 MW
Den Haag Natural gas 112 MW
Leiden Natural gas 83 MW
Maasvlakte Natural gas 78 MW
Vilvoorde Natural gas 265 MW
Gönyü Natural gas 428 MW

In addition, Uniper owns more than 70 hydropower plants with a capacity of 1,553 MW in Sweden.

According to the 2017 Sustainability Report, the power production (totalling 120.8 TWh in 2017) by primary energy source was:[23]

TWh
energy source 2017 2016
Gas/Oil61.973
Hard coal24.331.2
Nuclear11.113.6
Hydro11.811
Lignite11.59.7
Renewables0.20.2

Corporate affairs

The CEO of the company is Andreas Schierenbeck. Sascha Bibert is Chief Financial Officer (CFO).[24] Keith Martin is the Chief Commercial Officer (CCO) for commercial activities and Eckhardt Rümmler the Chief Operating Officer (COO).[25] The supervisory board consist of twelve members. Six members have been appointed by the general meeting, six by the employees through an election set up by Uniper SE. The shareholder representatives are Dr. Bernhard Reutersberg (Chairman), Markus Rauramo (Deputy Chairman), Jean-Francois Cirelli, David Charles Davies, Dr. Marion Helmes and Rebecca Ranich. The employee representatives are Harald Seegatz (Deputy Chairman), Ingrid Åsander, Oliver Biniek, Barbara Jagodzinski, André Muilwijk and Immo Schlepper.[26] Chris Flynn is the UK Business Development Manager.[27]

References
  1. Steitz, Christophe (27 April 2015). "E.ON CFO Schaefer to head future spin-off Uniper". Reuters. Retrieved 24 February 2016.
  2. Timperley, Jocelyn (4 January 2016). "E.ON completes split of fossil fuel and renewable operations". BusinessGreen. Retrieved 23 February 2016.
  3. "Gregor Recke". Retrieved 26 September 2018.
  4. https://www.eon.com/content/dam/eon/eon-com/investors/spin-off-uniper/EON_Spaltungsbericht_mit_Anlagen_EN.PDF Retrieved 26 September 2018.
  5. "Our profile". Uniper. Retrieved 2019-07-25.
  6. "Energy Services - International offices | Uniper". Uniper. Retrieved 2018-09-26.
  7. Bauchmüller, Michael (7 December 2018). "Vier Euro als Argument". Süddeutsche Zeitung. Retrieved 26 September 2018.
  8. https://in.reuters.com/article/uniper-ma-fortum-oyj-idINL8N2FK2OR
  9. https://www.bloomberg.com/news/articles/2020-05-27/controversial-german-coal-fired-power-plant-to-start-this-week?srnd=premium-europe&sref=fQXAZWIb
  10. "Eon zieht nach Essen - Neue Gesellschaft heißt Uniper". 27 April 2015. Retrieved 28 April 2015.
  11. mm-newsdesk (27 April 2015). "Eons Kernspaltung - mit "Uniper" soll alles besser werden". Retrieved 28 April 2015.
  12. Andresen, Tino (10 September 2015). "EON Cancels Nuclear Business Spinoff as 2015 Loss Forecast". Bloomberg Business. Retrieved 24 February 2016.
  13. "Zulassungsprojekt" (PDF).
  14. "Uniper shares get off to volatile market debut". Deutche Welle. 12 September 2016. Retrieved 16 November 2016.
  15. "Annual reports" (PDF).
  16. "E.ON to sell remaining Uniper stake to Fortum for $4.5 bln". R euters. 2018-01-08. Retrieved 2018-09-26.
  17. "DGAP-News: Uniper-Statement: Fortum schließt Erwerb von circa 47,35 Prozent an Uniper ab (deutsch)". FinanzNachrichten.de (in German). Retrieved 2018-09-26.
  18. "Uniper signs agreements to sell its generation business and distribution activities in France to EPH". Uniper signs agreements to sell its generation business and distribution activities in France to EPH. Retrieved 2019-07-24.
  19. "Locations". Uniper. Retrieved 2019-07-24.
  20. "Plant Portfolio". Uniper. Retrieved 2018-09-26.
  21. "Listicle - Die größten Stromversorger Europas". energie-winde.de (in German). Retrieved 2018-09-26.
  22. "Energy Storage - About us | Uniper". Uniper. Retrieved 2018-09-26.
  23. https://cr.uniper.energy/en/data-overview/
  24. "Uniper SE: New CEO Andreas Schierenbeck and CFO Sascha Bibert are taking up their new posts". Uniper SE: New CEO Andreas Schierenbeck and CFO Sascha Bibert are taking up their new posts. Retrieved 2019-07-24.
  25. "Leadership | Uniper". Uniper. Retrieved 2018-10-26.
  26. "Uniper SE - Energy has a new name - Supervisory Board". ir.uniper.energy. Retrieved 2018-09-26.
  27. "Industrial and Manufacturing". Retrieved 2019-03-20.
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