The European Commission approved the Belgian authorities' compensation scheme to aid the two operators of three nuclear reactors for their prolonged operational life, the Commission announced Friday.
Belgian authorities submitted their proposal for the prolonged operation of Tihange 1, Doel 1 and Doel 2 reactors to the Commission for assessment under EU state aid rules in September 2016, according to the statement.
Agreements with operators Engie-Electrabel and EDF Belgium were concluded in 2014 and 2015 respectively.
Engie-Electrabel and EDF Belgium committed a €1.3 billion investment in exchange for authorization to run the reactors for another ten years.
The Commission concluded that Belgium has demonstrated that the measures avoid undue distortions of the Belgian energy market and the support scheme for the operators have now been deemed in line with EU state aid rules.
However, if Belgian authorities decide to close the reactors before the end of the ten-year period or if they modify tax on nuclear power, the companies would receive financial compensation.
With the approval, Engie-Electrabel is obligated to sell a volume equivalent to the company's share of annual production from Tihange 1, Doel 1 and Doel 2 on regulated electricity markets each year.
By Ebru Sengul