EP votes to restructure fund management

3 April 2002

A European Parliament (EP) amendment to legislation on completion of the internal market in electricity and gas limits nuclear power generators' access to decommissioning funds. The overall bill was passed with a majority of 351 in favour, 79 against and 114 abstentions. The legislation must now be ratified by the European Council.

The amendment states: "In order to ensure the availability of funds for future decommissioning and to avoid obstacles to fair competition in the energy market, member states must adopt separate accounting for the financing of future decommissioning or waste management activities. These funds must be reviewed and audited annually by an independent body, such as the regulator or regulatory bodies, to verify that the revenues and the associated interest raised for these future activities shall only be used for these purposes, that is for decommissioning or waste management activities and not used directly or indirectly to fund activities in the market." The EP has also passed a resolution supporting the complete liberalisation of the EU electricity market. France is still resisting attempts to open up its market (see links below). As part of its energy legislation, the EP passed a law prohibiting any further foreign acquisitions by Electricité de France unless there is an equal amount of acquisition made in France by foreign utilities.



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