Price of the nuclear fleet still divides Engie and the state as deadline slips to December

The federal government and Engie have yet to agree on the state's takeover of Belgium's nuclear power plants. That is the message of a joint statement by Engie, the office of Prime Minister Bart De Wever (N-VA) and Energy Minister Mathieu Bihet (MR), VRT NWS, RTBF and La Libre reported on Wednesday. It is the second time the deadline has moved: first 1 October, then 4 November. The new target date for a framework agreement is 12 December, with at most one additional month, according to the statement.

Both sides say months of in-depth talks have brought progress and a better understanding of each other's interests, but that significant differences remain, notably over the valuation of the transaction. They cite the current circumstances and the complexity and scale of the operation as reasons for the delay. The De Wever government surprised many in late April by announcing that it might take over all seven reactors, including those already shut down, VRT NWS recalls. A letter of intent signed on 29 April set out the plan to agree the main terms, RTBF writes.

According to La Libre, the dispute centres on how much Engie should pay the state for the future dismantling of the plants. Engie had set aside 8.8 billion euros in provisions for this by the end of 2022. A source close to the file told the paper that the government considers this insufficient and wants a top-up, which Engie refuses. La Libre argues the group still has an interest in signing: the state would take over responsibility for dismantling in return for a fixed sum, so Engie would no longer face extra payments every three years.