Off the Hook: Nuclear Power Companies in Germany

location of nuclear plants Germany, Image from wikipedia.

Germany aims to phase out its nine remaining reactors by 2022, faster than almost any country

On  December 12, 2016 , it cut a deal with the nuclear power companies operating in the country that would guarantee them a ceiling on costs related to radioactive waste, lawmakers said  on December 12, 2016  Germany’s E.ON SE, RWE AG, EnBW AG and Sweden’s Vattenfall AB already set aside about €17 billion ($18 billion) to finance the disposal of radioactive waste after the government moved to ban nuclear power five years ago. Now  they would pay an additional €6 billion into a public fund but be off the hook for any further payments if the cost of processing the radioactive material were to balloon out of control in the decades to come, as many experts fear.  The companies have also agreed to drop some of the lawsuits they filed against the government after the nuclear ban….

The government and the power companies are moving toward “legal certainty,” said Oliver Krischer, a lawmaker with the Greens on Monday. But “to bring a lasting peace to the topic, the nuclear power plant companies should drop their remaining disputes at the national level and in international tribunals,” he said. Vattenfall is suing Germany for around €5 billion in arbitration at Washington’s International Centre for Settlement of Investment Disputes.

Excerpt Germany Cuts Deal With Nuclear Power Companies Over Waste Costs, Wall Street Journal, Dec. 12, 2016

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