Belgium’s government has drafted a law to nationalise Engie’s nuclear plants if takeover talks fail, newspapers De Tijd and L’Echo reported on Tuesday. The Belgium nuclear nationalisation plan would expropriate Engie in Belgium and pay the company compensation.
Why Belgium nuclear nationalisation is on the table
Since April, the government and Engie have been negotiating a state takeover of all Belgian reactors. They are also haggling over the bill, running into billions, for decommissioning. However, talks have made little progress, VRT NWS reported. So, the two sides may miss their own 4 November deadline.
Prime Minister Bart De Wever ordered the draft texts, according to Belga. Even so, his office and that of Energy Minister Mathieu Bihet declined to confirm the plan to VRT. In fact, the threat may mainly serve to pressure Engie in the talks.
What it means
Forced nationalisation would be a highly unusual step for Belgium. Meanwhile, Europe still faces tight energy markets this winter. For the gas backdrop, read our report on European gas prices.
For a deeper analysis, read: Belgium Nuclear Takeover: The ~$3bn Decommissioning Gap Behind the Nationalisation Threat
