Germany gives nuke plant operators $2.9B for early shutdown

BERLIN (AP) — The German government has agreed with four utility companies that they will receive about $2.9 billion in compensation for the early shutdown of their nuclear power plants. Germany is on course to phase out the use of nuclear power by the end of 2022. Six nuclear power plants that are still in use will need to be shut down before the end of their original operating life. As part of the deal announced Friday, the companies will have to drop all compensation lawsuits, including a case brought before a Washington-based international arbitration panel. It also needs to be finally approved by the companies’ boards and is subject to scrutiny from the European Union’s competition authority.