In order to finance the decommissioning of the Belgian nuclear power plants and the disposal of nuclear waste, an amount of 41 billion euros will be needed in the coming decades. The nuclear piggy bank Synatom will be used for this, a subsidiary in which Engie Electrabel had set aside 14 billion euros in nuclear provisions at the end of last year to finance the clean-up.
But because there has long been a fear that the money will not be available when the time comes, Minister Van der Straeten has drawn up stricter legislation to guarantee that the money will be available for the nuclear clean-up. After all, the largest part of the Synatom piggy bank is not actually in an account.
For example, Electrabel was allowed to borrow it from itself to finance all kinds of energy projects elsewhere in the world. The bill provides that Engie Electrabel will pay back the loans to Synatom.
Up to 41 billion euros
“Dismantling and salvage is the longest, most expensive and most delicate shipyard our country has ever known,” says Van der Straeten. “The works will last at least until 2135 and cost up to 41 billion euros. Engie Electrabel is responsible for the outstanding nuclear energy bill of billions. We will anchor that more firmly in the law.”
There will also be stricter supervision by the Nuclear Facilities Commission (CNV). If Electrabel wants to pay dividends to the French parent company Engie, it will first have to get approval from the committee.
Electrabel takes note of the plans and will “analyze them to determine their consequences”. “We would like to emphasize that we have consistently met all of our obligations, as enshrined in the 2003 Act, and have a solid credit rating.”
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