The European Commission has approved Germany’s plans to create a new public fund to manage radioactive waste.

Germany intends to take over the liabilities relating to the management of radioactive waste and spent fuel from nuclear power plant operators.

They would have to pay around €24 billion (£21bn) in return, which would be secured in the new public fund.

This is made up of a basic amount equivalent to the provisions already set aside by the operators for this purpose and a premium aimed at covering the risk of cost increases in the future.

The German authorities believe the measure is necessary for the phase out of nuclear production by 2022.

The Commission found the support granted “does not exceed what is necessary to achieve this objective and that the competition distortions created by it are limited”.