Germany's E.ON to shut down nuclear reactor early

E.ON (EONGY) says it plans to shut down its 1.3 GW Grafenrheinfeld nuclear reactor in Germany as early as May 2015, seven months before its operating license expires, because subsidized renewable energies and a tax on nuclear fuel have eroded the plant's profitability.

The news is a sign of how Germany's energy policy of setting up generous subsidy schemes for renewable energies has undermined the country's formerly lucrative conventional power generation industry, WSJ writes.

Comments (3)
  • Puma69
    , contributor
    Comments (160) | Send Message
    I think the election to shut down the nuclear power plants right after the Fokushima accident played to much on people's feelings at the time. Maybe a restriction of gas from Russia will change their minds.
    28 Mar 2014, 10:16 AM Reply Like
  • alashagra
    , contributor
    Comments (57) | Send Message
    Agreed. People have ignorant (no scientific) opinions about nuclear power and it's a shame that it resonates with their elected leaders. Nuclear power is a very powerful and sustainable energy source and if you we are mindful of the risks associated with it and take steps to minimize them we could have an energy independent world.
    30 Mar 2014, 09:05 PM Reply Like
  • Veritas1010
    , contributor
    Comments (3406) | Send Message
    Maybe, but Europeans have this tendency to 'go ostrich' when problems confront them.


    In all fairness two World Wars and a Cold War will do that to you.


    I've bailed on my own Euro utilities, bought low a few years ago and made a little money on price appreciation and dividends, but with dividend cuts occurring now that means negative growth for me - GDFZY, SNAM RETE, ENLAY, etc. One reason I wouldn't ouch E.On or smaller issues like FORTAM (Finland) at this time.
    30 Mar 2014, 12:00 PM Reply Like
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