E.ON welcomes agreement on potential temporary continued operation of Isar 2

E.ON CEO Leonhard Birnbaum:

"E.ON has always declared that it supports the German government’s efforts to ensure a secure energy supply within the scope of our possibilities. That is why we have always been willing to discuss the potential continued operation of the Isar 2 nuclear power plant, if the German government requested it. We continue to stand by this responsibility. I am pleased that together with the operating company PreussenElektra and the Federal Government we have now been able to agree on the cornerstones for securing a possible continued operation. As is known, we have been preparing for the dismantling of Isar 2 after 31 December 2022 for years. Compensation plans have been made, service providers contracted – we are ready to tackle all of this once again. Isar 2 is one of the most reliable plants in the world and can make a valuable contribution to a secure energy supply in this crisis. I would especially like to thank our employees at PreussenElektra for their great flexibility in this extraordinary situation."

For the Isar 2 nuclear power plant, this means that, after the corresponding preparations, the plant will go into a short shutdown in order to carry out an overhaul of the pressuriser pilot valves. After the restart, the plant can continue to operate with the existing reactor core until probably March 2023. The federal government will decide on the actual call-up by the beginning of December at the latest. Should the plant be called up, PreussenElektra would earn electricity market revenues for approximately 2 TWh of electricity production with Isar 2 next year. These potential revenues must be set against the additional costs arising from the extension and the legal regulations that would then potentially apply to the treatment of electricity market revenues. E.ON plans to use any possible revenues from continued operation in the Energiewende. If there is no call, the federal government will reimburse all costs incurred in preparing continued operation. A legislative procedure will be initiated in the short term, and work is being done in parallel on a contractual safeguard.