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Germany faces a wave of bankruptcies due to the refusal of Russian gas

The refusal of Russian gas could lead to a sharp increase in the number of bankruptcies in Germany. This will mostly affect small and medium-sized enterprises that do not have long-term contracts for the supply of natural gas. The attention to the problem was drawn by the ...

Nord Stream II preparing for bankruptcy

... of the company, Matthias Warnig. In the first days of March 2022, Rusbankrot already published a message about the possible bankruptcy of the company, but the company itself then publicly denied rumors of insolvency. At the same time, the company's management ... ... oil market (Shell, OMV, Engie, Uniper, Wintershall DEA) took financial part, it was planned to increase the volume of natural gas transported to Germany along the bottom of the Baltic. By the end of February, the situation with the project came to a standstill....

SMALL AND MEDIUM BUSINESSES IN GERMANY ON THE VERGE OF BANKRUPTCY DUE TO FUEL PRICES

... the work of companies in Germany. However, the problem does not only concern gas stations and the transport sector. According to local experts, existing taxes on electricity and the protracted reform of the public transport fare system could lead to bankruptcy of significant number of entrepreneurs. According to the NEOPresse media, gasoline prices have already exceeded € 2 per liter at gas stations in Germany. The cost of gas also doubled. This raises concerns among businessmen who fear corporate bankruptcies. The media quotes the words of Markus Jerger, head of the Federal Association ...

Mistake of Naftogaz can lead to bankruptcy of company

... incompetent, which forced him to systematically solicit funds for the purchase of fuel from the state budget. In an interview with Forbes, the former head of Naftogaz called the actions of the new leadership a ‘catastrophic mistake’. By refusing to purchase gas in advance before the heating season, top management actually led the company to bankruptcy. According to the expert, the Ukrainian company will simply not be able to independently restore the necessary gas reserves in the next heating season. According to approximate calculations, about 8 billion cubic meters of gas will have to ...

Irish company Bright Energy files for bankruptcy

Irish company that worked with environmentally friendly fuel faced bankruptcy. Bright Energy has announced that it will leave the country's electricity supply market. All of its 1,300 customers ... ... discount of €100 in March 2021 to normalize the situation. Experts note that there are still 15 electricity suppliers and 8 gas suppliers in the domestic market of the country. All of them offer a wide range of tariffs and options. Thus, Bright Energy ...

Major supplier of electricity collapsed in the UK

... were forced to calculate all the risks, which caused their concern in the current situation. In addition, the country has a price cap. This forces the company to incur losses in the supply of electricity to end users. British officials managing the gas and electricity markets have raised the ‘price ceiling’ for consumers since October 1, but this has not helped to improve the situation. The energy sector is heading towards the expected bankruptcy, while the relevant minister Kwasi Kwarteng told the media that the government was not going to provide them with financial assistance from the national budget. At the same time, a number of large firms stated that they were ready for the possible ...

Three more energy suppliers collapsed in UK

... The day before, three more firms declared their insolvency - as a result, over 230 thousand customers were left without suppliers. Last Wednesday, three UK energy companies - Igloo Energy Supply Ltd., Enstroga Ltd. and Symbio Energy Ltd. declared bankruptcy. This was due to the sharp rise in natural gas prices, which the enterprises simply could not cope with. Energy regulator Ofgem has already promised to find another energy provider for households that lost their suppliers, reports Bloomberg. Since the beginning of the wave of bankruptcies of ...

SEVERAL ENERGY FIRMS HAVE GONE BURST IN THE UK AT ONCE

A tendency for energy companies to close down has been reported in the UK due to the increase in gas prices Since August - five small operators have already gone burst and four more may soon be closed down as well. The price for gas is to be blamed here - this year, its retail price has increased by 3.5 times. This circumstance led to the impossibility ...

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