Germany Throws 14-year Lifeline to Nuclear Power Plants

GALWAY, IRELAND--September 13, 2010--Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Germany's coalition government has decided to extend the lives of older nuclear power plants by up to 14 years. The decision, which still must pass through Germany's parliament, the Bundestag, effectively postpones the closure of 17 nuclear power reactors in the country that had been slated to close between now and 2021. The stock price of the energy companies that own the plants, including E.ON AG (OTC:EONGY) (Dusseldorf, Germany) and RWE AG (OTC:RWEOY) (Essen, Germany), rose noticeably after the news.