2023-07-10 17:00:00
As we wrote last week, the agreement between Engie and Vivaldi, concerning the extension of Doel 4 and Tihange 3, had not settled all the disputes between the Belgian State and the French energy company. A dispute worth 2 billion euros, concerning the cost of dismantling nuclear power plants, was still pending. What are we talking about ? The Nuclear Provisions Commission (CPN) reassesses, every three years, whether Engie has provisioned enough money to manage its nuclear liabilities (nuclear waste and dismantling of power plants). At the end of 2022, the CPN had decided to increase nuclear provisions by 2.9 billion euros, including an increase of 2 billion euros just for the dismantling of power plants. This substantial increase in nuclear provisions had been contested by Engie, which had threatened to seize the Court of Markets. The June 29 agreement between Engie and Vivaldi automatically settled part of the dispute. The deal provides that Engie will pay a lump sum of 15 billion euros to the Belgian State for the management of nuclear waste (the famous price cap).
Formally, the increase in nuclear provisions was contested by Electrabel and Synatom, its subsidiary which manages nuclear provisions.
Dismantling not included in the package
But this fixed price does not concern the dismantling of the power stations. The CPN will therefore have to continue to reassess, every three years, whether the nuclear provisions paid by Engie are sufficient to finance the dismantling of the plants.
The increase of 2 billion euros in nuclear provisions, allocated to dismantling, was therefore still relevant, after the signing of the agreement between Engie and Vivaldi. An increase contested by Engie, let us remember.
Peter Baeten, director of the Mol nuclear study center: “The extension of two nuclear reactors makes it possible to maintain expertise in Belgium”
But, as expected, the CPN finally reduced the increase in nuclear provisions: the increase will be around 1.4 billion euros, instead of 2 billion euros (for dismantling). How to explain this revision? To be prudent, the CPN had classified certain nuclear waste resulting from the dismantling of power plants in category B. However, following core drilling carried out at Tihange 2, it turned out that certain waste could go into category A, which is less expensive. These are certain volumes of concrete surrounding the reactor vessel. The corings allowed Engie to prove that these volumes could be classified in category A. Other elements made it possible to lower the final score.
Will this revision satisfy the energy company? “For Electrabel, there is no longer any reason to appeal to the Market Court, replies Anne-Sophie Hugé, spokesperson for Engie. The decision of the CPN confirms what we expected” . Formally, the increase in nuclear provisions was contested by Electrabel and Synatom, its subsidiary which manages nuclear provisions. Synatom’s board of directors has yet to decide on the matter. But if Electrabel does not appeal, there is no reason for Synatom to do so. It should be noted that the nuclear provisions, dedicated to dismantling, will be reassessed by the CPN every three years. If Engie’s findings were to be reversed in the future, the CPN could again increase nuclear provisions.
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