German Atomic Forum: Hands off Financial Reserves!

Berlin, 18.11.1999

There appears to be a great lack of clarity in some municipal utilities about the nature of and necessity for financial reserves. There is no other way of explaining their intention, announced through the European Union, of enforcing a ban on financial reserves.

Under commercial and trade law, companies in Germany are required to build up financial reserves against future obligations. The power supply companies have always met this obligation. The latest changes in tax legislation limit the reserves, which are already serious, by about DM 40 billion.

The plans of Hermann Scheer, a socialist member of the Bundestag [the lower house of the German parliament], also show that he intends to nationalise the accumulated reserves paid for by electricity customers, but without releasing the operators of nuclear power plants from their responsibility under nuclear legislation for closing down and disposing of waste. The German Atomic Forum declares: anyone who intends to abolish the nuclear energy financial reserves, partially or completely, is acting irresponsibly and is deliberately leaving the decommissioning costs for future generations to bear.


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