German power firms will have to pay less for the storage of radioactive waste than investors had feared if the government accepts a recommendation from a panel that announced its decision on Wednesday after months of wrangling. Shares in E.ON and RWE jumped 3.2 and 5.5 percent respectively on the news, with traders saying the proposal could remove the single biggest concern investors have regarding German utility stocks. The utilities, hammered by plunging power prices and a shift towards renewable energy, however argued that the proposals were still more than they could afford. The government-appointed commission agreed to ask the power firms to pay 23.3 billion euros ($26.4 billion) into a state fund to cover the costs of nuclear waste storage — close to the minimum sum in a range that had been previously discussed.
Reuters 27th April 2016 read more »
RWE AG, EON SE and other German utilities will probably have to pay 23.3 billion euros ($26.4 billion) to cover the costs of storing their nuclear waste once they close their reactors. That’s what a government-appointed panel recommended that the four operators should fork out in exchange for having the state assume unforeseen liabilities associated with the waste storage exceeding that figure, Juergen Trittin, one of the heads of the 19-member panel said at a press conference in Berlin. RWE rose the most in more than two months, while EON climbed to the highest level since Feb. 5.
Bloomberg 27th April 2016 read more »
Deutsche Welle 27th April 2016 read more »
FT 27th April 2016 read more »
A computer system at a German nuclear power plant which controls the movement of radioactive fuel rods has been invested by a two viruses. Officials discovered the unauthorised software at the Gundremmingen plant around 75 miles northwest of Munich. The plant is run by German utility company RWE claims the security of the facility was not jeopardised because the infected computer systems were not connected to the internet.
Daily Mail 27th April 2016 read more »
A NUCLEAR power plant has been hit by a massive security breach which risks handing sensitive data about radioactive fuel rods to terrorist groups.
Express 27th April 2016 read more »