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German govt to raise 3 billion euros from nuclear fuel tax

From Jan. 1 2011 through December 2016, a tax on nuclear fuel will bring an estimated EUR2.3 billion to the federal government.

German Upper House Passes Nuclear Fuel Tax – WSJ.com, By Beate Preuschoff, Dow Jones Newswires;NOVEMBER 26, 2010, BERLIN -Germany’s upper house of parliament Friday approved a new tax on nuclear fuel rods, part of a sweeping overhaul of the country’s atomic energy policy.

From Jan. 1 2011 through December 2016, a tax on nuclear fuel will bring an estimated EUR2.3 billion to the federal government.

In exchange for the fuel rod tax and other contributions to a new fund for renewable energy research, the four utilities that operate Germany’s 17 nuclear plants—E.ON AG (EOAN.XE), RWE AG (RWE.XE), EnBW Energie Baden-Wuerttemberg AG (EBK.XE) and Vattenfall Europe AG–can now plan to continue operations years longer than planned.

Seven reactors built before 1980 will be allowed to operate for eight years past the current 2022 deadline to phase out nuclear power, set by a previous government, and 10 newer plants may operate up to 14 years longer.

German Upper House Passes Nuclear Fuel Tax – WSJ.com

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November 26, 2010 - Posted by | Germany, politics | , ,

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