Chancellor Angela Merkel’s cabinet approved a draft law on Wednesday that adopted recommendations requiring Germany’s utilities to pay 23.3 billion euros (17.9 billion pounds) into a state fund to cover the costs of storing nuclear waste, government sources said.
The new law will also close a loophole to ensure that if companies split up, they will still remain liable towards the newly established state fund, the sources said.
A 19-member commission recommended in late April that Germany’s “big four” power firms – E.ON, RWE, EnBW and Vattenfall – pay a total 23.3 billion euros to remove unwanted long-term liability for the storage of nuclear waste.
The legacy costs stem from Germany’s decision to end nuclear power by 2022 following Japan’s Fukushima disaster five years ago.
📌 Editor’s Note: For content partnerships and collaborations, reach out via editor@naija247news.com
Naija247news Media Group LLC is committed to ethical, independent journalism that serves the public interest. Our editorial process prioritizes accuracy, fairness, and transparency in reporting. All content is fact-checked and held to the highest standards of integrity. Learn more in our full editorial policy here.
© 2025 Naija247news Media Group LLC. All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten, or redistributed in whole or in part without prior express written permission from Naija247news Media Group LLC.
Reporting by Babatunde Akinsola in Lagos, Nigeria.
