Germany readies $26 billion fund for nuclear waste disposal

German Nuclear Power

BERLIN (AP) — The German government has approved a plan that will see operators of the country's nuclear power plants pay some $26 billion into a fund to finance the storage of radioactive waste as Germany exits nuclear energy.

Germany decided after Japan's Fukushima nuclear disaster five years ago to switch off all its nuclear plants by the end of 2022, and is aiming to generate 80 percent of its electricity from renewable sources by 2050. Eight reactors remain online.

The legislation approved by the Cabinet Wednesday would see plant operators take responsibility for dismantling power plants and packing up waste, while the government would have responsibility for storing the waste.

The Economy Ministry says a formal contract with the electricity companies has yet to be agreed.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs