Germany Offers Nuclear Plant Operators Massive USD 2.9 Billion For Early Shutdown!

Word that Germany would eventually go against the nuclear power way is no brand new development and nothing sensational. As a matter of fact, it has been known by as early as 2015. And it is now that one’s seeing just how keen the famous Western European power is about extending an olive branch to a form of energy that has more detractors than there are stars in the skies.

Factually speaking, the anti-nuclear movements in Germany first gained traction as early as the 1970s when local initiatives protested against the country’s plans to build nuclear power stations.

But as the years went by, Germany committed to a bid to cut down its greenhouse gas emissions, took a firm stand to cut down its nuclear power dependence. This was, in the period little over the last three decades pointing to a worrisome figure.

A key statistic, in this regard, is the figure from the year 2000, wherein it was confirmed that the nuclear power stations (back then) had as much as 29.5 per cent share of the power generation mix.

The calls, however, to shut down the nuclear power plants, grew louder and with the passage of time, generated a lot of hue and cry following the disastrous Fukushuma incident, a real horrifying truth-teller about the perils of keeping up with the nuclear form of energy!

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The dangers of storing the radioactive material and the colossal disaster it can cause once it manages to escape the confines of conformity!

If you are a part of the contemporary firmament of Deutschland, then you’ll note that the call to function with a largely carbon-free energy sector has never been more profound. In the years since the Social Democrats and the Green Party won the elections (circa 1998), wherein it was agreed to retire the nuclear power plants after a period of 32 years, one’s witnessing a newfound keenness to side with renewable forms of energy.

And while there are no fewer than 6 nuclear power plants in different parts of Germany, calls have already been made to subject them to premature retirement.

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Now the question is- how is Germany going to go about an early shutdown of the same and what is currently being done in order to motivate the operators of these nuclear power plants so that one can action the early shutdown?

Here’s what the Indian Express reported on the vital story from the beating heart of the strongman of Western Europe:

The German government said Friday it has agreed with four utility companies that they will receive a combined 2.4 billion euros (USD 2.9 billion) in compensation for the early shutdown of their nuclear power plants.

Germany is on course to phase out the use of nuclear power by the end of 2022.

In a joint statement the environment and economy ministries said that Swedish utility company Vattenfall will receive 1.425 billion euros.

The German companies RWE, EnBW and E.ON/PreussenElektra will share the remaining 1 billion euros.

That being said, it can be said for certain that the nuclear power plants are fast approaching what will not be a temporary end but a permanent solution.