(MENAFN- The Peninsula) Reuters
BRUSSELS: Belgium has reached an agreement with French utility Engie to extend the life of two nuclear reactors by 10 years, the prime minister said on Monday, overturning a plan to exit nuclear power in 2025 in the face of the war in Ukraine.
The Doel 4 and Tihange 3 reactors - the newest of Belgium's seven reactors - were due to close for good in two years' time, but will now restart in November 2026 after necessary work and will continue operating for 10 years.
'The extension of these two nuclear reactors is crucial to guarantee our energy security,' Belgian Prime Minister Alexander De Croo told a news conference after meeting cabinet members.
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Belgium had planned to exit nuclear power entirely in 2025, but Russia's invasion of Ukraine has forced the government to rethink plans to rely more on natural gas.
Belgium's electricity network operator had warned that Belgium would face a significant shortage in the winter of 2026-2027 without the nuclear extension. The country will still need to find a solution to plug a potential gap in 2025-2026.
De Croo said that while there was an agreement in principle to extend the life of the two reactors, not all details of the agreement had been finalised.
He said that the price of the electricity that the reactors would produce would be based on a UK-style 'Contract for Difference' regulated-asset-base scheme, details of which will be discussed with Engie in the coming weeks and months.
The reactors, which both entered service in 1985, account for 35% Belgium's nuclear power capacity with about 2 gigawatts combined.
Belgian Energy Minister Tinne Van der Straeten said the reactors would be operated through a joint company in which Engie and the Belgian state would be shareholders.
Talks will also continue about how to share responsibility between the Belgian state and Engie about the cost of nuclear waste management, but an agreement in principle has been reached for capping the cost of nuclear waste handling for Engie, De Croo said.
The cost of the future dismantling of Belgium's seven nuclear reactors will however remain the responsibility of Engie, he added.
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