E.ON welcomes ruling by Federal Constitutional Court on the 13th amendment of the Atomic Energy Act

12/06/16

Company indicates that it is prepared to enter into constructive talks on the implementation of the court’s decision

E.ON welcomes the ruling by the Federal Constitutional Court according to which at least partial compensation will have to be awarded for the early nuclear phase-out. The court thus acknowledges above all the importance of trust when it comes to investments made on the basis of political decision.

Based on the German government’s long-term energy concept adopted in late 2010, which saw nuclear energy as a ‘bridging technology’, E.ON had invested several hundred million euros to extend the service life of its nuclear power plants. The accelerated energy transition in the wake of the Fukushima accident in 2011 and the rapid nuclear phase-out had fully devalued these investments. However, there was to be no compensation.

The Federal Constitutional Court found today that the legislator should have at least taken these losses into consideration for its decision at the time. It is now the responsibility of policymakers to implement the Constitutional Court’s ruling.

E.ON is prepared to enter into constructive talks with the German government on the implementation of the ruling. Such talks may take some time. The company is therefore not expecting any payments anytime soon.

The total amount of the claims now established in principle cannot be quantified until the court’s decision has been analyzed in more detail.

This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group Management and other information currently available to E.ON. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.