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Germany’s Uniper sees drop in power generation and electricity sales in 2023

The German energy group Uniper has released its 2023 results, posting a €6.3bn profit. The group recovered from a US$19.1bn loss in 2022 which was due to additional costs of gas procurement. 

As of end-2023, Uniper had an installed capacity of 22.4 GW in Europe, including 8.5 GW of gas, 6.2 GW of coal, 3.6 GW of hydro, 2.8 GW of biomass and fuel-oil, and 1.4 GW of nuclear. Most of the company’s power plants are located in Germany (9.8 GW), followed by the United Kingdom (6.4 GW), Sweden (4.2 GW), the Netherlands (1.6 GW) and Hungary (0.4 GW). Uniper’s power generation declined by 13% in 2023 to 52.7 TWh, including 36% from gas, 24% from coal, 23% from hydro and 17% from nuclear. Purchased power decreased by 32% to 150.6 TWh, while the group’s electricity sales stood at 209.5 TWh (-28% compared to 2022).

Uniper sold 1,638 TWh of natural gas in 2023 (a slight 1% decrease compared to 2022). In 2023, the company had long-term contracts amounting to 315 TWh (-11.5%). Gas storage capacity stood at 7.3 bcm (-1%).

The company’s assets in Russia, owned by its affiliate Unipro, were deconsolidated by the group in 2022.