Germany seeks $21bn to fund nuclear ‘bad bank’

The German government is to set up a fund into which nuclear power generators would pay $21.2bn to ensure the long-term costs of decommissioning their plants are met, according to local media.

Sueddeutsche Zeitung newspaper cited an internal document from the economy and environment ministries, which stated that the four main nuclear power utilities should pay some 17 billion euros into a fund in instalments to meet longer-term costs, while about 19 billion euros from their provisions would pay for dismantling and waste storage.
E.ON, RWE ,EnBW and Sweden’s Vattenfall, have already set aside about 36 billion euros for plant decommissioning and disposal of nuclear waste. The four utilities were forced to act after Germany decided to end nuclear power in the country following the Fukushima incident.

All plants in the country are scheduled for closure by 2022 but there has been concern that German taxpayers may end up footing a portion of the bill.

“We can’t be sure that all nuclear power generators will survive the changes on the energy market and meet their long-term obligations in decommissioning,” the newspaper said.

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