German energy supplier Uniper said Wednesday that it is exploring the possibility of the government acquiring a majority holding in the company as its losses mount, a jump from the roughly 30% stake that the state already has pledged to take.
The government put together the rescue package in July after Russia's cuts to natural gas supplies forced Uniper to buy gas at far higher prices on the market to fulfill its supply contracts. As the energy crisis drives up prices, the European Union's executive Commission has proposed measures to help households, including tapping into the extraordinary profits of electricity producers.
