European Commission approves Belgium support to nuclear reactors operators

  • Liis Einstein
  • 27.3.2017 09:38

The European Commission approved on 17 March Belgium's support scheme to compensate Engie-Electrabel and EDF Belgium for potential financial risk related to long-term investments. The companies are to receive financial compensation, if Belgium decides to close the reactors before 2025.

In 2015, 39% of electricity production in Belgium came from nuclear plants. Belgium agreed with nuclear reactors operators to extend the operational lifetime of three nuclear reactors. In turn, the companies committed to invest 1.3 billion euro in exchange for approval to run the plants for another ten years. The Commission's assessment under EU state aid rules was required due to possible distortions to Belgian energy market and an advantage to Engie-Electrabel and EDF Belgium. The final decision by Commission says that the guaranteed investment provides an economic advantage under the Belgian law but the government has implemented measures to avoid any market distortions. Engie-Electrabel is obliged to sell a fixed volume of its annual production to ensure liquidity of the electricity market and fair competition.

 

 

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