Germany's nuclear future decided this summer

BERLIN, GERMANY - Hopes are high that many of Germany's 17 nuclear power stations will be given a new lease of life following a crucial meeting between the government and representatives of leading energy companies.

High-ranking politicians from Germany's departments of the environment and economy met with representatives from E.ON AG, RWE AG, Vattenfall AB and Energie Baden-Württemberg AG to discuss the future of the German nuclear sector. Germany's original aim was to phase out nuclear power by 2021, but the current government is in favour of extending the life of older nuclear plants to prevent an energy crisis. Germany's nuclear power plants account for 26% of the nation's energy consumption.

Although a final decision will not be taken until the summer, it looks increasingly likely that Germany's nuclear industry will continue to operate well beyond the 2021 deadline. "We want clarity by the summer break," said Rainer Bruederle, Germany's minister of the economy, in parliament. "We all want to enter the age of renewable energy," he said, but pointed out that extending the life of nuclear power stations would "generate additional funds that will facilitate a quicker switch to renewable energy. That's money that should go into research and development."

The four energy companies stand to make profits of up to 233 billion euros (US $329 billion) if the nuclear plants obtain lifespan extensions of 25 years, according to state-owned bank Landesbank Baden-Württemberg. However, obtaining this extension is going to cost the energy companies dearly, with the government looking to take half of the windfall.

The decision to extend the life of nuclear plants may come too late to save two of the oldest plants. Under current legislation, EnBW faces closing Neckarwestheim 1 by the spring, and RWE will have to shut down the Biblis facility by autumn. Energy companies have been vocal about a need for urgency in the government's making a fast decision as both firms stand to lose billions of euros in profits. E.ON Chief Executive Wulf Bernotat told reporters: "If there is a willingness to talk, it would be politically irresponsible during the talks to shut any plants."

Nuclear power remains an explosive topic with Germany's public, and a spate of problems in the nuclear sector has not helped improve its image. German nuclear safety watchdog the Federal Office for Radiation Protection told the government that more than 100,000 barrels of nuclear waste at the Asse salt-mine storage facility will have to be removed, as underground water is leaking into the facility.