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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland) - Germany's government is facing another massive financial lawsuit over its decision to shut down older nuclear plants in 2011.
Energy company Energie Baden-Württemberg AG (EnBW) (Karlsruhe, Germany) is the fourth and final nuclear operator in Germany to file a lawsuit for damages. It has announced that it is suing the German government along with its 46% owner, the State of Baden Wurttemberg, over what it called the 'unlawful' closure in 2011 of its Neckarwestheim 1 and Philipsburg 1 reactors. It is seeking hundreds of millions of euro for the financial losses incurred.
After the Japanese Fukushima nuclear accident in early 2011, the German government pulled a surprise u-turn on nuclear power, announcing the planned closure of all 17 reactors over the coming next decade. For additional information, see May 30, 2011, article - Germany Votes to Dump Nuclear Power.
EnBW's Neckarwestheim 1 and Philipsburg 1 reactors were among the first casualties as they formed part of the country's seven oldest nuclear reactors. They were ordered offline for a three month moratorium which was then made permanent.
EnBW joins RWE AG (OTC:RWEOY) (Essen, Germany), E.ON AG (OTC:EONGY) (Dusseldorf, Germany) and Vattenfall AB (Stockholm, Sweden), in suing the government. Vattenfall was the latest company to take action in October last year, seeking a reported 4.7 billion ($6 billion) for lost revenues. For additional information, see October 27, 2014, article - Vattenfall Sues Germany for Nuclear Losses.
"After weighing all relevant aspects and based on information provided by the Supervisory Board, the decision was taken to file a suit for damages," EnBW stated. "The damage which EnBW incurred as a consequence of the unlawful directives concerning the nuclear power plants KKP 1 and GKN I are in the low nine-digit figure range."
E.ON is seeking 8 billion ($10.2 billion) in compensation and RWE is looking for around 2 billion ($2.5 billion). For additional information, see June 15, 2012, article - E.ON Seeks 8 Billion from German Government.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the Industrial Info "Contact Us" page.
Energy company Energie Baden-Württemberg AG (EnBW) (Karlsruhe, Germany) is the fourth and final nuclear operator in Germany to file a lawsuit for damages. It has announced that it is suing the German government along with its 46% owner, the State of Baden Wurttemberg, over what it called the 'unlawful' closure in 2011 of its Neckarwestheim 1 and Philipsburg 1 reactors. It is seeking hundreds of millions of euro for the financial losses incurred.
After the Japanese Fukushima nuclear accident in early 2011, the German government pulled a surprise u-turn on nuclear power, announcing the planned closure of all 17 reactors over the coming next decade. For additional information, see May 30, 2011, article - Germany Votes to Dump Nuclear Power.
EnBW's Neckarwestheim 1 and Philipsburg 1 reactors were among the first casualties as they formed part of the country's seven oldest nuclear reactors. They were ordered offline for a three month moratorium which was then made permanent.
EnBW joins RWE AG (OTC:RWEOY) (Essen, Germany), E.ON AG (OTC:EONGY) (Dusseldorf, Germany) and Vattenfall AB (Stockholm, Sweden), in suing the government. Vattenfall was the latest company to take action in October last year, seeking a reported 4.7 billion ($6 billion) for lost revenues. For additional information, see October 27, 2014, article - Vattenfall Sues Germany for Nuclear Losses.
"After weighing all relevant aspects and based on information provided by the Supervisory Board, the decision was taken to file a suit for damages," EnBW stated. "The damage which EnBW incurred as a consequence of the unlawful directives concerning the nuclear power plants KKP 1 and GKN I are in the low nine-digit figure range."
E.ON is seeking 8 billion ($10.2 billion) in compensation and RWE is looking for around 2 billion ($2.5 billion). For additional information, see June 15, 2012, article - E.ON Seeks 8 Billion from German Government.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the Industrial Info "Contact Us" page.
