(News Bulletin 247) – Engie announced on Thursday that it had signed an agreement with the Belgian government to extend two of its nuclear reactors, but also concerning its obligations in terms of waste treatment.
The agreement aims to restart the nuclear power plants of Doel 4 and Tihange 3 from November 2026, or even from November 2025, with the aim of strengthening the security of the country’s electricity supply.
It also provides for the creation of a legal structure dedicated to the two extended nuclear units, which will be owned equally by the Belgian State and Engie with the aim of aligning the interests of the two parties.
The agreement also established the fixing of a lump sum for future costs linked to the treatment of nuclear waste, concerning all the group’s nuclear installations in Belgium, for a total amount of 15 billion euros.
This means that the group will no longer be exposed to changes in future costs related to waste processing, which were previously reviewed every three years by the Nuclear Provisions Commission (CPN).
In return, Engie has planned to record in its accounts for the 2023 financial year an expense corresponding to the increase in its commitments under this agreement, for an amount of around 4.5 billion euros.
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