Vattenfall to Seek $6 Billion from Germany Over Nuclear Power Phase Out

Swedish energy giant Vattenfall will seek $6 billion in damages from the German government on claims that Germany's nuclear power phase out violates its rights of ownership.

VattenfallThe lawsuit has been filed in Germany's highest court. Vattenfall has also filed a claim with the International Center for Settlement of Investment Disputes in Washington.

Although the $6 billion figure had not previously been made public, German Energy Minister Sigmar Gabriel revealed the sum, equal to 4.7 billion euros, in parliament during a committee meeting, sources said.

In total, companies are seeking $19.2 billion (15 billion euros) in damages from the German government over the nuclear power phase out, which was promoted by the 2011 disaster at Japan's Fukushima power plant.

State-owned Vattenfall, which owns three nuclear power plants in Germany – in Brunsbuttel, Krummel and Brokdorf – has not confirmed the sum.

The plant in Brunsbuttel has been out of service since 2007, while the Krummel plant has been off line since 2009. However, Germany's phase out is forcing Vattenfall to decommission the plants.

Germany's E.ON and RWE Group have also filed legal complaints against the government, while German utility EnBW is not seeking damages.

E.ON is seeking $10.2 billion (8 billion euros) in damages, while RWE is seeking $2.55 billion (2 billion euros).

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  • Anonymous
    Anonymous

    Too bad. Germany over reacted after Fukishima. All those windmills out in the eastern plains of Germany

    don't produce what the nuclear plants did.  Now to force all the EC countries w nuclear to cut back?

    Seems a bit one sided of the German majority owned company