The ailing gas importer Uniper has submitted an application for stabilization measures to the federal government after Russian deliveries were cut, as the company announced on Friday in a mandatory notification to the stock exchange

The proposal aims, among other things, for a fair distribution of costs, an increase in the credit line through the state development bank KfW and a possible participation of the federal government in Uniper. Accordingly, Uniper also proposes being able to pass on price increases to customers.

The Finnish Uniper majority shareholder Fortum stated that a reorganization of Uniper’s business areas was being discussed with the federal government “in order to bundle the system-critical German business activities and secure them with the federal government”.

Federal Minister of Economics Robert Habeck (Greens) explained that the government was working “at full speed on stabilization measures” and was in close contact with all stakeholders. The specific form of support will now be negotiated and then decided.

But one thing is clear: “We will not allow a systemically important company to go bankrupt and as a result cause turbulence on the global energy market.”

Uniper got into trouble as a result of the gas crisis, plays a central role in Germany’s energy supply and supplies many municipal utilities.

The group is currently unable to pass on additional costs when purchasing gas to customers due to the throttling of Russian gas supplies through the Nord Stream 1 pipeline. The company had announced that this would result in significant financial burdens.

The Bundestag and Bundesrat had previously passed legal changes to facilitate possible federal aid for ailing energy companies such as Uniper.

“They have a real problem,” Economics Minister Robert Habeck said before, referring to suppliers like Uniper, which have imported a lot of Russian gas.

As the German Press Agency learned from government circles on Friday, there have not yet been any decisions on concrete measures at Uniper.