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E.ON seeks €8bn in damages for accelerated nuclear exit

14th June 2012

E.ON AG, Germany’s largest utility, is seeking €8 billion in compensation in a potential industry-wide claim against the German government following the accelerated phase-out of nuclear energy, should the country’s constitutional court deem the policy shift an illegal act of expropriation.

The decision comes after the disaster at Japan’s Fukushima reactor; Germany closed eight reactors last summer and accelerated the closure date of its remaining reactors, from 2036 to 2022. A spokesman for E.ON said the firm was optimistic the case for compensation would be successful.

Source: Enzen Global