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uniper ceo michael lewis

Uniper embarks on €8bn strategic reset but cools on hydrogen | Finance

Germany utility Uniper intends to invest about €8bn in its transformation by the early 2030s as it continues to wrestle with major financial challenges. It recorded adjusted EBITDA of €379m in the first half of 2025, significantly below its prior-year earnings of €1.7bn, and adjusted net income totalled €135m, down from €1.1bn. The company repaid €2.6bn state aid to the German government in March. Its power business will participate in the German government’s planned auction for new gas-fired power plants in the country. In the UK, Uniper plans to build two new gas-fired power plants, at Connah’s Quay and Killingholme, that could be equipped with carbon capture and storage. Connah’s Quay Low Carbon Power project was, earlier this week, confirmed by the UK government as a priority project in the HyNet cluster and Uniper is… Read More »Uniper embarks on €8bn strategic reset but cools on hydrogen | Finance

Future of Energy event: Switching from natural gas to hydrogen ‘unrealistic,’ says Uniper CEO | Hydrogen

The notion that the energy market can switch from natural gas to green hydrogen is “completely unrealistic,” according to Uniper CEO Michael Lewis. Speaking at the Gas, LNG and Future of Energy conference in London, he said, “The cost of green hydrogen is extremely expensive, around eight to 10 times the cost of natural gas. So that’s not an option if we want to keep Europe as an industrial powerhouse.” He described the current market changes as a “necessary recalibration”. Echoing sentiments throughout the two-day conference, Lewis said natural gas has huge advantages as it is abundant, affordable and flexible. He went on to describe the Iberian blackout, which happened earlier this year, as a “good wake up call” as it underlined the importance of supply security, and expressed challenges with electricity prices in Germany,… Read More »Future of Energy event: Switching from natural gas to hydrogen ‘unrealistic,’ says Uniper CEO | Hydrogen