Nuclear power consensus signed: Oppenhoff advises the Federal Government

Today, 10 January 2011, the Federal Government and operators of the German nuclear power stations signed a development funds agreement on the partial skimming off of additional profits generated from the extension of the operational lifespan of the German nuclear power stations. The development funds agreement is part of the Federal Government’s energy concept and flanks the amendment of the German Atomic Energy Act, pursuant to which the operational lifespan of German nuclear power stations has been extended by an average of twelve years. In addition to the nuclear fuel tax, the development funds agreements stipulates that operators of the nuclear power stations are to make additional payments into an energy and climate fund set up to this effect from 2011 onwards until the closure of the nuclear power stations and with which, amongst other things, measures are be promoted in the energy efficiency and renewable energies sectors. This should provide the energy and climate fund with an overall volume of 21 billion euro. The development funds agreement is published on the internet by the German Federal Ministry of Finance.

Through the Federal Ministry of Finance, the Federal Government retained the services of external legal experts of the commercial law firm Oppenhoff & Partner for advice on the development funds agreement. Oppenhoff & Partner’s team of advisers comprised Dr. Georg Maier-Reimer (lead partner), Dr. Axel Bödefeld (tax), Dr. Lars Böttcher until October 2010, and thereafter Dr. Peter Etzbach.

About Oppenhoff & Partner
Oppenhoff & Partner is an independent law firm located in Cologne. It sees itself as a top-ranking legal adviser of enterprises and entrepreneurs, offering a broad range of advice on commercial and tax law. With 55 lawyers, it focuses on the provision of advice to regional, national and international major and medium-sized enterprises. Oppenhoff & Partner’s clients include Ford, Hannover Rück, Johnson & Johnson, M. DuMont Schauberg, United Airlines, Vattenfall and the Zurich Group.

Contact at Oppenhoff & Partner
Elmar Salinger
Public Relations Manager
Tel: +49 (0) 221 2091-315
elmar.salinger@oppenhoff.eu