The Dutch State is preparing to take on the full ownership of the two planned nuclear power stations. Both for construction and later exploitation, the state cannot count on participation of private market parties, so writes Minister Sophie Hermans (VVD) of climate and green growth to the Lower House.
This fall it was already known that many energy companies, pension funds and other market parties find it too risky to invest in the two large nuclear power stations that the government wants to build. NRC It then reported that the coalition took into account that the state would have to pay the construction to a large extent itself. During construction, the risk of delay and cost overruns is real, while there are no income yet.
At the time, the Hope lived at the Ministry that market parties would like to participate in the exploitation after construction. After all, that is the phase in which money can be earned with the sale of generated electricity.
‘Far -reaching step’
Hermans now wants to set up a holding company that becomes the property of the Ministry of KGG. It will include operating companies in which the nuclear power stations are housed, both for construction and commissioning. The minister speaks of “a far -reaching step” that is nevertheless necessary, because a market consultation has shown that private parties have “no interest”.
The minister has considered offering market parties large subsidies and guarantees on, for example, returns, but is now abandoning. With that construction, the distribution between lusts (profit) and charges (financial risks) would turn out to be too negative for the state. Private parties are also cautious in other countries, according to the minister.
With the proposed construction, there is room for investors to participate at a later stage. However, it is still uncertain whether the power stations will be profitable, among other things because the costs of the construction are not yet known. The power stations are expected to be operational at the earliest at the earliest. Until now, the cabinet has reserved 14 billion euros, but this is probably insufficient.
Taboo
Nuclear energy was taboo in the Netherlands for decades, but since a few years it has been prominent again on the political agenda. The coalition sees nuclear energy as an important part of a future, ‘clean’ power supply because wind and solar power are not always available. According to Hermans, it is therefore in the public interest that the nuclear power stations are coming. It further points to the importance of ‘strategic autonomy’, because with its own nuclear power stations, the Netherlands would be less dependent on other countries for its energy supply.
In the future holding company, the ownership of the current nuclear power plant in Borssele can also be housed. That plant, which was commissioned in 1973, is 70 percent owned by the province of Zeeland and a number of municipalities. The remaining 30 percent is in the hands of the German energy company RWE. The province and municipalities have asked the government to take over their shares because they no longer want to bear the financial risks.
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