When the earthquake hit the Japanese nuclear plant at Fukushima, Germany did a knee-jerk reaction and shut down it's own nuclear development. Now, that chicken has come home to roost.
From World Nuclear News:
Vattenfall sues Germany over phase-out policy
Swedish utility Vattenfall is suing Germany at the Washington-based International Centre for Settlement of Investment Disputes over the closure of the Brunsbüttel and Krümmel nuclear power plants.
The move follows the German government's decision to withdraw from nuclear power in the wake of the Fukushima Daiichi accident.
Vattenfall spokesman Magnus Kryssare declined to confirm German media reports that the Swedish company is seeking €4.7 billion ($6 billion) in damages.
"Based on the confidentiality rules that apply for the process, Vattenfall cannot give any comments regarding the size of the compensation," Kryssare told World Nuclear News today.
Following the Fukushima accident in March 2011, the government of German Chancellor Angela Merkel announced the withdrawal of the operating licences of eight German nuclear power plants, which included Vattenfall's Brunsbüttel and Krümmel units.
In the meantime, Sweden's newly-formed coalition government has said it wants Vattenfall to quit its expansion of nuclear power in the country.
Say hello to sharp increases in the cost of electric power. Nuclear is the only way to go - molten salt is preferred, thorium would be the icing on the cake.
