E.ON demands billions for German nuclear u-turn

E.ON has announced it expects billions of Euros in compensation after the German government announced a phase-out of nuclear energy. The energy firm says it had planned heavy investment in […]

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By Vicky Ellis

E.ON has announced it expects billions of Euros in compensation after the German government announced a phase-out of nuclear energy.

The energy firm says it had planned heavy investment in nuclear in the country, based on the government’s previous plans to use nuclear energy.

After the Japanese nuclear disaster earlier this year sparked protests in Germany, Chancellor Angela Merkel announced all of the country’s 17 reactors would be shut down by 2022.

A statement from E.ON said that it accepted an early phase-out of nuclear energy was “the will of the political majority”, but expected to receive “due compensation for the financial damages associated with these decisions, which is expected to amount to billions of Euros.”

On Monday, the Chancellor hailed the move away from traditional energy sources to renewables as Germany’s chance to be an “international pioneer.”