Top German utilities seeking compromise with government on nuclear deal

E.ON and RWE may be prepared to drop lawsuits planned against the German government in return for a better deal on the decommissioning of their nuclear power plants.Reichstag

Reuters quotes insiders as saying the utilities would drop their lawsuits against what they believe to be expropriation for the forced shut down of their nuclear facilities if compromise is secured in meeting the EUR80bn in costs associated with decommissioning the plants.

E.ON alone is claiming $8.5bn in compensation for the decision of the government to phase out nuclear post-Fukushima.

“Dropping the complaint is subject to negotiations,” one of the sources said, adding this would depend on whether an amicable solution could be found on decommissioning.

E.ON and RWE’s provisions alone stand at a combined EUR27bn, but there have been doubts over whether this can be backed up by their assets, which have fallen in value following years of declining power and share prices.

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