The German Federal Cabinet last week agreed on three energy projects items on its energy turnaround agenda. This included the (very limited) opening of tenders for the support of renewable energies for other EU Member States, the revision of the Incentive Regulation Ordinance amending incentives towards investments into distribution networks, and the decision to implement the KFK-proposal regarding the financing of the nuclear power phase-out, including post spin-off liability.
Tag Archive for 'nuclear liability'
The Commission to Review the Financing for the Phase-out of Nuclear Energy (Kommission zur Überführung der Finanzierung des Kernenergieausstiegs – KFK) presented its final report on 27 April 2016. It included a proposal to establish a EUR 23.3 billion state operated fund to finance nuclear waste storage, initially paid for by the power plant operators of Germany’s four large utilities – RWE, E.ON, Vattenfall and EnBW. Responsibility for decommissioning and dismantling the nuclear power plants shall remain with the operators indefinitely.
Today the Federal Cabinet approved the “Act on Continued Liability for Nuclear Decommissioning and Disposal Costs”. Further it also approved the establishment of a “Commission for the review of the financing of the nuclear phase out” (Kommission zur Überprüfung der Finanzierung des Kernenergieausstiegs (KFK).
The discussion on transferring provisions created by German nuclear power operators for nuclear power decommission liabilities to a state-owned foundation (Atomstiftung) is gathering momentum. Today’s Frankfurter Allgemeine Zeitung (FAZ) has an article with the headline “RWE on the way to becoming a state-owned group”, covering an upcoming presentation by Werner Müller. He is a former Federal Minister for Economics and Technology and since 2012 head of RAG Stiftung – which will finance perpetual mine management obligations related to coal mining.
Nuclear liability has newly become an issue, since Vattenfall’s CEO Lars G. Josefsson has been criticized for having created potential liabilty of the Swedish parent company for its German nuclear energy plants. Continue reading ‘Vattenfall’s Nuclear Liability in Germany: Some Background’