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Volkswagen Set for Multimillion-Euro Windfall on Gas Trade

  • VW directs sale of 2.6 TWh of natural gas after early hedge
  • Company pressured to keep using coal to save Germany’s gas
The Volkswagen headquarters and auto plant in Wolfsburg, Germany.

The Volkswagen headquarters and auto plant in Wolfsburg, Germany.

Photographer: Krisztian Bocsi/Bloomberg
Updated on

Volkswagen AG is set to receive hundreds of millions of euros in trading profits as it offloads a massive natural-gas hedge, selling large amounts of fuel it previously purchased back into the German market.

Europe’s largest car-maker has directed the sale of 2.6 terawatt-hours worth of gas contracts, according to a document seen by Bloomberg News. That’s enough gas to run about 200,000 normal, gas-heated homes for a year.