German Court Rules Nuclear Phase-Out Law Partly Unconstitutional
06 December 2016 - 09:59AM
Dow Jones News
By Zeke Turner
BERLIN--Germany's constitutional court ruled Tuesday morning
that parts of the government's nuclear phase-out law were
unconstitutional, paving the way for utilities companies to sue for
damages.
Germany's E.ON SE and RWE AG and Sweden's Vattenfall AB have
looked for nearly EUR20 billion ($21.3 billion) in damages after
the government ruled in 2011 that all nuclear power plants in
Germany must go offline by 2022.
The government had previously approved an extended lifespan for
some nuclear plants, but changed course after the disaster at
Japan's Fukushima Daiichi in 2011. Companies like E.ON and RWE were
left scrambling to finance the government-mandated phase-out and
cover their investments in a business that was suddenly
outlawed.
Write to Zeke Turner at zeke.turner@wsj.com
(END) Dow Jones Newswires
December 06, 2016 04:44 ET (09:44 GMT)
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