German energy company Uniper, which the German government bailed out during the energy crisis in 2022, said on Thursday it has paid back around €2.6 billion ($2.8 billion) to Germany.
The payment was made on Tuesday, the company said. It had announced the amount two weeks ago, which was about €100 million higher than previously expected.
The increased payment keeps the company in compliance with EU state aid requirements imposed by the European Commission.
The Dusseldorf-based firm ran into serious financial difficulties in 2022 when Russia sharply reduced, and then fully halted, supplies of gas in response to EU sanctions following the full-scale invasion of Ukraine.
As gas prices skyrocketed, the cost of procuring replacement supplies ran into the billions.
To prevent Uniper from going under, the German government paid subsidies of around €13.5 billion and became the majority shareholder in the company with a stake of over 99%.
The European Commission made the authorization of the aid contingent on a number of conditions, including the sale of numerous shareholdings by the end of 2026.
The payment will benefit the German state and taxpayers, chief financial officer Jutta Dönges said.
“It is proof that Uniper is financially stronger and profitable after the crisis. We have learnt the right lessons from the crisis and are well equipped to make our contribution to a secure energy supply,” she added.
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