Electrabel, the Belgian subsidiary of French energy group Engie, will have to raise provisions for decommissioning its seven nuclear plants in Belgium and storing waste by €1.8bn, after the revision of the discount rate used to calculate provisions by the Commission for Nuclear Provisions (CNP). This discount rate will be cut from 4.8% at the end of 2015 to 4.2% at the end of 2016, 3.85% at the end of 2017 and 3.5% at the end of 2018, raising the level of Electrabel's required provisions.
These provisions are expected to cover nuclear plant dismantling and used fuel management costs. At the end of 2015, Electrabel's nuclear provisions stood at €8.4bn, including €3.6bn for decommissioning and €4.7bn for waste management. The revised discount rate will raise provisions to €9.2bn at the end of 2016.
Electrabel operates seven nuclear reactors in Belgium, with a combined capacity of 5.9 GW, that are scheduled to stop operations between 2022 and 2025; the CNP report takes into account a 10-year lifetime extension at Doel-1 and Doel-2.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.