Noerr advises the German federal government on reorganising the financing of nuclear waste disposal
Noerr has been instructed by Germany’s Federal Ministry for Economic Affairs and Energy to support it with the legislative package on the reorganisation of the financing of nuclear waste disposal and the necessary negotiations with the energy companies.
The German Bundestag today passed a law on the financing of nuclear waste disposal (decommissioning, dismantling, temporary and permanent disposal). As part of this legislative package, Noerr advised the Ministry in particular on setting up a fund in the form of a foundation under public law. Nuclear power plant operators will pay around €17 billion into the fund so that the capital needed for the disposal can be made available. The payment obligations will be secured by extending the number of companies liable where affiliated companies are involved and by introducing special accounting requirements. By transferring the provisions made for temporary and permanent disposal plus a risk surcharge to the fund, the companies can achieve a release from liability for their disposal obligations. Noerr has also been instructed to support the German federal government in an audit under state aid law.
Advisors to the German federal government: Noerr LLP
Dr Holger Schmitz (lead, Berlin), Christof Federwisch (Frankfurt, both constitutional and nuclear issues), Dr Tibor Fedke (Corporate, Berlin), Santiago Ruiz de Vargas (Accounting, Munich), Dr Andreas Butz (Employment, Düsseldorf), Helge Heinrich (State Aid, Brussels), Dr Georg Schneider (Private Equity & Venture Capital, Munich)
Associates: Marlen Mausch-Liotta, (Regulatory, Berlin), Kathrin Andrä, Dr Julia Gerzen, (both Corporate, Berlin), Thomas Zollner (Accounting, Munich)