Energy
0

Germany Faces Massive Suits Over Nuclear Phaseout

Germany Faces Massive Suits  Over Nuclear PhaseoutGermany Faces Massive Suits  Over Nuclear Phaseout

Germany’s phaseout of nuclear energy has triggered over 20 lawsuits by big power companies that have demanded billions of euro in damages, said a government paper released Tuesday, AFP reported.

After the 2011 Fukushima nuclear disaster, Berlin moved to immediately shutter the country’s eight oldest reactors and close all others by 2022 while boosting renewable energy such as wind, solar and biomass.

Three large electricity companies — EON, RWE and Vattenfall — have responded with a spate of court challenges, which the environment ministry has listed for the first time in response to a request by the Greens party. In total, 14 complaints have been filed against the national government, including nine cases before the top Constitutional Court, and seven cases have been filed against state governments.

The likely final bill if the lawsuits succeed is unknown but would probably run into the billions, according to the paper. The biggest known claim came from Swedish company Vattenfall, which has demanded $5.8 billion compensation from the federal government.

Financialtribune.com