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7/22, 11:29 AM (Source: TeleTrader)
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Belgium, Engie reach deal to extend nuclear power use

The Belgian government said on Friday it has reached an agreement with French power company Engie SA on extending the use of nuclear power for another decade amid the energy crisis prompted by the war in Ukraine.

The two sides signed today a "non-binding letter of intent" with the goal of reaching a final deal by the end of the year. Belgium was set to prolong its nuclear power use in 2025, however, the energy crisis sped up the process of restarting its nuclear plants Doel 4 and Tihange 3 in November 2026. These two reactors account for 35% (2 gigawatts) of Belgium's total nuclear power capacity.

Commenting on the decision, Energy Minister Tinne Van der Straete argued that Russia wasn't a reliable gas supplier. "...It has become clearer how much energy is a matter of national security," the minister added. With the latest deal, the government plans to establish a 50-50 joint venture with Engie and ensure energy stability in the coming years.

Baha Breaking News (BBN) / ND