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German power companies demanding billions in damages over nuclear phaseout – Germany faces suits worth billions over nuclear phaseout

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“Germany’s phaseout of nuclear energy has triggered over 20 lawsuits by big power companies that have demanded billions of euros in damages, said a government paper released Tuesday.

After the 2011 Fukushima nuclear disaster, Berlin moved to immediately shutter the country’s eight oldest reactors and close all others by 2022 while boosting renewable energy such as wind, solar and biomass.

Three large electricity companies — EON, RWE and Vattenfall — have responded with a spate of court challenges, which the environment ministry has listed for the first time in response to a request by the Greens party.

In total, 14 complaints have been filed against the national government, including nine cases before the top Constitutional Court, and seven cases have been filed against state governments.

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The biggest known claim came from Swedish company Vattenfall, which has demanded €4.7 billion ($5.8 billion) compensation from the federal government.

Vattenfall launched its claim in 2012 before a Washington-based tribunal, the International Center for Settlement of Investment Disputes.

RWE has demanded €235 million ($290 million) in damages in a German court, and EON is suing for €386 million ($475 million), said the ministry.”

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“The country’s five existing reactors will remain in operation until the end of their lifespan, with the last one being decommissioned in 2034.”

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