Germany has so far provided about 26 billion euros ($28.6 billion) in share purchases and loan injections to Uniper and Syvi, after suffering unprecedented losses buying natural gas shipments at record prices to replace supplies no longer arriving from Russia, which was the largest in Germany. gas supplier before the Ukrainian crisis.
While the bonus payment has raised questions about the use of taxpayers’ money, it also highlights the need for businesses to stay competitive.
Syfy and Uniper agreed to cap the salaries of board members of the two companies as part of the bailouts, but the bonus cap was not applied to all employees.
One of the sources said that 200 Syfy resellers in London received bonuses worth hundreds of millions of dollars, and mid-level resellers received between five and seven million dollars each.
Energy Insurance Europe, known as Syfy, the former German unit of Russian Gazprom, said the performance of employees justified the bonus for their contribution to securing supply, without providing details.
“This allows Syfy to be competitive in the HR market to be able to purchase gas and hydrogen for the German market in the future,” she added in an emailed comment.
Uniper also confirmed that it paid bonuses to trading staff for 2022, but below the level of the previous year. “Competition among dealers in the energy market is intense. Therefore, not paying a bonus is not appropriate,” the company said.
Read the Latest World News Today on The Eastern Herald.
