German power firm faces elevated op risks in Russia

OpRisk North America: clusters of risks cause problems for Uniper

Novera Khan, Uniper

Electricity generator Uniper faces a concentration of operational risk in one of its key markets, Russia, amid political wrangling over a flagship pipeline project. The problems typify the broad range of op risks afflicting the power sector and their dangerous degree of interconnection, the firm’s chief risk officer warns.

Uniper is part of the five-member financing consortium behind the planned Nord Stream 2 gas pipeline connecting Russian gas fields with European markets. US authorities have