Vattenfall Sues Germany for Nuclear Losses
GALWAY, IRELAND--October 27, 2014 --Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) The fallout from Germany's sudden u-turn on nuclear power continues to haunt the government as news emerges that Swedish energy major Vattenfall AB (Stockholm, Sweden) is suing them for a reported 4.7 billion ($6 billion).
The company joins fellow German nuclear operators RWE AG (OTC:RWEOY) (Essen, Germany) and E.ON AG (OTC:EONGY) (Dusseldorf, Germany) in taking lawsuits against the government to cover the billions of euro they have lost since the government's shock decision to ditch nuclear power and shut down plants back in 2011.
