German utilities to get several billions of euros in nuclear tax refunds

13/06/2017 10:18 Legislation


Germany's Constitutional Court ruled that the nuclear fuel tax is illegal on 7 June, raising the prospect of 6.3 billion euros refund to utilities and up to 1.5 billion euros in interest payments.

Power companies E.ON, RWE and EnBW were hit hard by Chancellor Angela Merkel's decision to exit nuclear power by 2022, when a nuclear fuel tax was imposed.


Last year, the utilities were also told by the government that they must pay 23.6 billion euros into a new state fund that will finance the future storage of nuclear waste, which was 6.2 billion euros more than the companies had provisioned for. Repayment of the nuclear fuel tax may now compensate for this.

Vattenfall and Trafigura to sell gas to Ukraine’s Naftogaz

19/07/2017 10:39:00

Ukraine's Naftogaz intends to sign deals with two European companies, particularly Trafigura Trading, Sarl and Vattenfall Energy Trading GmbH, aiming the purchase of natural gas, as it seeks to divert from the Russian energy imports.


Daily (19.07.2017): Oil prices jumped by 0.8% on Tuesday supported by strong demand from China

19/07/2017 09:51:00

Oil prices jumped on Tuesday, supported by strong demand from China. Nevertheless, many markets are well supplied and oil for prompt delivery is trading at heavy discounts to forward futures, consequently crude oil prices remain under pressure and trading volumes are quite low. Brent crude edged up by almost 0.9% to close at $48.84 a barrel, while WTI price rose by 0.83% to end at $46.40 a barrel.


Iberdrola to enter Italy's retail electricity market by the end of the year

19/07/2017 08:12:00

Spanish utility Iberdrola will enter Italy's retail electricity market by the end of the year and is aiming 5-7 percent of the nation's over 37 million consumers, one of the group's top managers declared on Tuesday.