6/7/2017, 10:26 AM (Source: TeleTrader)
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German utilities jump as court voids nuclear fuel tax

Shares of German utilities grew significantly on Wednesday as the country's constitutional court ruled the nuclear fuel tax imposed between 2011 and 2016 is illegal. This way, RWE, E.ON and EnBW are enabled to claim tax refund of around €6 billion.

After a dispute between the companies and the government, the tax, which required the nuclear operators to pay €145 per gram of fuel used in reactors, was declared "formally illegal and void."

Upon scoring a major victory, RWE jumped around 4.4% while E.ON and EnBW gained 3.85% and 2.07%, respectively.

Breaking the News / DN