By Giulia Petroni
Uniper’s shares trade lower on Monday after rising significantly last week on recovery expectations.
At 0809 GMT, the stock is down 15.3% at EUR5.25 a share.
Shares last week reached a peak closing price of EUR7.88 on Thursday before falling to EUR6.2 at market close on Friday.
The German bailed-out utility said at the end of last week that it would restore the mothballed Oresundsverket power plant in Sweden upon request of power grid operator Svenska Kraftnat.
The Swedish authority said the plant must be part of the country’s reserve no later than 2025 and for a duration of five years in case of supply disruptions in the southern city of Malmo due to a deteriorating security situation.
Uniper’s Sydkraft, which owns the plant, will receive a compensation of a maximum of 1.11 billion Swedish kronor ($102.8 million) for the costs associated with restoring the plant and keeping it in operation.
The plant, which hasn’t been in operation since 2016, used to supply electricity in southern Sweden and delivered district heating to the residents of Malmo.
Write to Giulia Petroni at [email protected]
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