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Swedish energy giant Vattenfall sues German government for billion over nuclear power policy

Friday, 21 December 2012
Swedish energy giant Vattenfall sues German government for billion over the German's nuclear power policy which means that Vattenfall had to close some of its reactors.

As such the feeling is that, Germany's decision to phase out nuclear power did not fall on good ground at Vattenfall which now seeks the German state of Skr30 billion according to reports from the Swedish business daily, Dagens Industry.

After the nuclear disaster in Fukushima in Japan, Germany decided that the country's nuclear power should be phased out in 2020. For Vattenfall, the decision means that the potential for return on the investments the company has made in its German reactors has disappeared. According to the current to the Swedish daily, Vattenfall has sued Germany for just over Skr30 billion.

The dispute between Vattenfall and Germany shall be settled in arbitration, according to Dagens Industri, which also reports that Vattenfall has left a any comment, but Financial Markets, Minister Peter Norman who is the overseer of all Swedish state owned companies knows the mood.

"I am informed and believe that it is reasonable to Vattenfall to addressed claims against the German government because fall in its revenues from nuclear power, "said Peter Norman to the paper.
by Scancomark.com Team

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