Germany’s Constitutional Court on June 7 ruled that a nuclear fuel
tax imposed from 2011-16 was illegal. This means the country’s power
companies will need to be refunded billions of euros from the
government.
News of the ruling boosted shares of major operators E.ON and RWE,
which must phase out atomic power by 2022 under a decision Chancellor
Angela Merkel made after Japan’s 2011 Fukushima disaster, reported the Agence France-Presse (AFP).
The tax, which levied €145 per gramme of new radioactive fuel, had
netted the German government nearly €6.3bn, according to finance
ministry data.
E.ON said the tax had cost it over €2.8bn, a sum it wants refunded plus €450m interest.
RWE said it had paid €1.7bn, and EnBW said it had paid €1.4bn.
On the Frankfurt Stock Exchange, RWE shares jumped 6.34% to €19.70, and EON 5.12% to €8.46 on June 8.
In a separate report, Deutsche Welle (DW), Germany’s international
broadcaster, noted that the ruling is a major victory for the country’s
nuclear power operators. It is also the second victory by Germany
utilities. In December, the court ruled that a decision to shut down all
nuclear plants following Japan’s Fukushima disaster violated some of
their property rights. The decision has paved a way for the utilities to
claim back stranded investments and power production rights.
https://www.neweurope.eu/article/germanys-top-court-powers-energy-giants/