August 4, 2021

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Engie no longer expects to keep nuclear power plants open

The French energy company Engie no longer expects the Belgian nuclear power plants to generate money after 2025. When the annual results are announced on Friday, the group will announce a write-off on the Belgian nuclear power plants of 1.9 billion euros. De Tijd writes this on the basis of reports from the French business channel BFM Business.

According to the BFM, consultations took place recently between the Engie top and the Belgian government. Both parties took note of the closure of the nuclear power plants between 2022 and 2025. Engie will cease long-term investments and take a write-down that takes into account the final closure of its nuclear park in late 2025.

Thierry Saegeman, Engie Electrabel’s nuclear director, said in November that the company would no longer invest in preparing for a lifetime extension.

Engie Electrabel has carried out nuclear depreciation for 1.6 billion euros since 2018. An additional income of 20 years was only expected for the two youngest power plants Doel 4 and Tihange 3, which corresponds to a valuation of 1.9 billion euros.