Germany to pay €2.4B in nuclear phaseout compensation

Friday, 05. March 2021 14:12

The German government announced on Friday that it reached an agreement with major energy suppliers on compensation for its planned phaseout of nuclear energy. Germany reiterated its commitment to shutting down the last nuclear plant by the end of 2022 and agreed to pay around €2.4 billion in compensation.

According to the government, €1.4 billion euros will be paid to Vattenfall, €880 million to RWE, €80 million to EnBW, and €42.5 million to E.ON/PreussenElektra. As part of the deal, the companies will withdraw their lawsuits against the arrangement. The statement added that the agreement is yet to be approved by the firms' boards, and is subject to state aid review by the European Commission.

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