Germany, Utilities Said to Agree Nuclear Deal From Feb. 2017
- German cabinet is scheduled to approve the deal on Oct. 19
- Deal to provide investors with more clarity on nuclear closing
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The German government has reached an agreement in principle with utilities on a nuclear decommissioning pact that will probably go into effect in February, according to a person with direct knowledge of the matter.
Utilities from RWE AG to EON SE would have to stump up a combined initial payment of 23.3 billion euros ($25.8 billion) that was proposed by a government commission in April, as well as interest, to free them from their nuclear waste storage liabilities, the person said. A contract has yet to be drawn up, said the person, who asked not to be identified because the talks are private.