Engie, the parent company of Electrabel, confirmed the increase in its nuclear reserves today (Tuesday). Electrabel indicates, “At the end this year, 1.2 billion euros will be in the Synatom accounts as funds for Belgium’s nuclear power stations.”
The reserves for dismantling nuclear power stations and long-term storage of radioactive waste in Belgium reached 8 billion euros at the end of last year, and will henceforth go to 9.2 billion euros.
Electrabel, but also EDF, will contribute to Synatom, which manages these reserves.
This increase is the result of the three-yearly recalculation by the Commission for Nuclear Reserves, which has taken account of low rates of interest and a “gradual decrease in the discount rates.”
Engie indicates on its website, “Engie Group admits that the re-evaluation of the level of reserves, recommended by the Commission for Nuclear Reserves, covers the risks linked to the process of dismantling and the management of fissile material.”
The group communiqué evokes an impact of 1.8 billion euros on Engie’s consolidated accounts. The statement goes further stating that the 1.2 billion-euro difference referred to can be easily explained by accounting standards.