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08.06.2017 10:42
German Top Court Ruled Out Nuclear Fuel Tax
German nuclear power plant operators could reclaim some EUR 6.3 bn plus interest
AUTHOR: publics.bg


  • © Dennis Skley, flickr.com

Germany's top court on Wednesday declared the country's nuclear fuel tax to be illegal, a major victory for power firms now poised to reclaim about 6.3 billion euros plus interest and ease the strain on their balance sheets, Reuters reported.

Germany's Environment Minister Barbara Hendricks called the ruling a "colossal nuisance" as well as a slap in the face for the previous coalition under Chancellor Angela Merkel that was in charge when the tax was introduced in late 2010.

The verdict marks a second success for utilities after a court ruled in December that a push to shut down all of Germany's nuclear plants violated some of their property rights.

E.ON, RWE and EnBW have been hit hard by Chancellor Merkel's swift decision to exit nuclear power by 2022, a move prompted by the disaster at Fukushima, Japan, in March 2011.

Imposed between 2011 and 2016, the nuclear fuel tax has further weighed on utilities, amounting to payments of 6.285 billion euros from nuclear plant operators. A source familiar with the matter said the sum to be paid back could exceed 7 billion euros.


TAGS: Germany | nuclear fuel tax | nuclear energy | environment | E.ON | RWE | EnBW 


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