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German govt to change nuclear liability law – to make utilities pay up for nuclear exit costs

Germany proposes changes to nuclear liability law- draft law http://www.reuters.com/article/2015/09/02/germany-nuclear-idUSB4N10101R20150902 BERLIN, SEPT 2 The German government has proposed changes to a law to prevent German utilities from evading the payment of billions of euros needed to fund the country’s nuclear exit, according to a copy of the draft law seen by Reuters.

The document says that utilities will be liable for the costs of shutting down power plants and disposing of nuclear waste even if they give up control of subsidiary companies or spin-offs.

A spokesperson for the economy ministry said the draft law was currently being discussed by government departments.

Under current corporate laws, companies are liable for spun off units for five years, but there has been concern utilities might break up to avoid paying for the dismantling of Germany’s nuclear plants, the last of which will be shut for good in 2022. (Reporting byGernot Heller; Writing by Caroline Copley; Editing by Madeline Chambers)

September 4, 2015 - Posted by Christina Macpherson | Germany, politics