German energy firms need to set aside more money for nuclear exit

Tuesday, September 15, 2015

German energy companies are short of as much as 30 billion euros ($34 billion) of the money they need to set aside to build a safe disposal site for nuclear waste as part of the country's exit from nuclear power, Spiegel Online reported on Monday.

E.ON, RWE, EnBW and Vattenfall are due to switch off their nuclear plants by a 2022 deadline set by Chancellor Angela Merkel's government after the Fukushima disaster in Japan in 2011.

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Zeeland energy firm Delta hires Morgan Stanley to assess its future

Tuesday, February 18, 2014

Energy group Delta, which is still in the hands of Zeeland local authorities, has hired merchant bank Morgan Stanley to investigate a potential merger or sale, the Financieele Dagblad says on Wednesday.

'We are taking a broad approach,' a spokesman told the paper. 'We can continue as an independent, merge or be sold off, and that could involve an international company.'

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First ever Russian nuclear fuel for Western reactor

Saturday, February 15, 2014

The Russian-developed and manufactured TVS Kvadrat (TVS-K) fuel will be destined for the Ringhals 3, pressurised water reactor (PWR) of Sweden. Russian nuclear fuel manufacturer- TVEL, a sister concern of Rosatom, for the first time in history to supply such fuel assembly for the western design reactors.

Under an agreement signed between TVEL and Swedish state-owned concern – Vattenfall, Russia to make the first shipment of TVS-Kvadrat in April for the Ringhals 3 NPP, Informed Valborg Bjorn, Head of the North-European subdivision of Vattenfall.

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Vattenfall seeks recompense for German nuclear phaseout

Friday, December 21, 2012

Swedish energy group Vattenfall is reportedly reclaiming losses resulting from the German government's decision last year to shut down older nuclear reactors. The claim is reportedly backed by the Swedish government.

The Swedish business daily Dagens Industri reported Friday that Vattenfall was seeking damages to the tune of about 3.5 billion euros ($4.6 billion).

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Greenpeace Targets Swedish Nuclear Plants

Tuesday, October 9, 2012

Two nuclear-power plants majority-owned by Vattenfall AB, a state-owned Swedish power company, were targeted by Greenpeace activists, about 70 of whom broke into restricted areas.

The activists targeted the Ringhals plant on Sweden's west coast and the Forsmark facility on the east coast. Combined they produce about 36% of energy consumed in Sweden.

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Vattenfall Applies to Replace Several Swedish Nuclear Reactors

Monday, July 30, 2012

Vattenfall AB, the Nordic region’s biggest utility, applied to Swedish safety regulators to build one or two nuclear reactors to replace its older plants.

“There has been no investment decision,” Chief Financial Officer Ingrid Bonde said today. “It’s a very long process.”

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Germany may set up nuclear waste fund

Friday, April 13, 2012

The German government ill consider setting up a publicly administered fund to manage the disposal of nuclear waste from its power plants, environment minister Norbert Röttgen said following the publication of a Greenpeace report on Wednesday.

Greenpeace has called for a public fund because it fears German nuclear operators Eon, RWE, EnBW and Vattenfall may go bankrupt or try to wriggle out of their obligations after 2022, when the last of Germany’s reactors are due to close.

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Vattenfall CEO: Kruemmel Won't Go Online Before Mid-2011

Monday, January 24, 2011

BERLIN (Dow Jones)--German utility Vattenfall Europe AG has again delayed the planned restart of its nuclear power plant Kruemmel by some six months, Chief Executive Tuomo Hatakka told Dow Jones Newswires Tuesday.

On the sidelines of the Handelsblatt energy conference in Berlin Hatakka also indicated that the company's second northern German reactor--Brunsbuettel--might not be restarted at all if a review of the two power plants shows that a recently introduced tax on nuclear fuel in Germany makes the reactor loss-making.

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German nuclear tax weighs on utilities' credit ratings

Tuesday, October 26, 2010

When Germany announced its plan to phase out nuclear power stations last month, shares in the big four German power companies rose. The agreement made with the German government would see Eon, RWE, EnBW and Vattenfall pay a nuclear-fuel rods tax of EUR2.3bn until 2016 - but the market had been expecting worse.

But today Moody's has warned that the impact of the tax might yet force a downgrade of the companies' credit ratings.

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German utilities spook investors with nuclear gamble

Tuesday, October 5, 2010

FRANKFURT, Oct. 4 (Reuters) - German utilities' gamble of sacrificing near-term profits in exchange for extending the lifespans of their 17 nuclear plants is pressuring shares and may misfire if the political situation changes.

Last month, the government agreed with the four operators of Germany's nuclear power plants to extend the plants' life by 12 years on average in exchange for at least 31 billions euros ($42.45 billion) of payments.

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