Germany to review nuclear exit, reactor extensions into 2023 'unlikely'

Germany is to review its nuclear phase-out policy but continued operation of the country's remaining three reactors into 2023 was "unlikely", energy minister Robert Habeck said late Feb. 27.

Reviewing the closure of the country's 4-GW of nuclear capacity in the light of Germany's dependency on Russian gas was part of the ministry's task now, Habeck said.

"The question [of reviewing the nuclear phase-out] is relevant, I would not reject it ideologically," Habeck told German state broadcaster ARD, but "for winter 2022/23 nuclear will not help," he said.

The minister noted that decommissioning plans had advanced ahead of final closure of the three reactors on Dec. 31, posing high safety risks.

Operators also indicated challenges in securing fuel for the units, according to a pre-assessment.

In 2021, the sector generated 65 TWh, covering almost 12% of German power demand. 4-GW were closed last December.

Former EU energy commissioner Guenther Oettinger has called for the continued operation of the remaining reactors, according to German news agency DPA.

The total phase out was agreed in 2011 following the Fukushima nuclear accident in Japan reversing a 2010 plan to extend the run-time of reactors in the aftermath of the 2009 economic crisis.

German baseload power contracts for Q4 2022 and Q1 2023 soared Feb. 28, both trading at Eur240/MWh, EEX exchange data showed.

S&P Global Platts Analytics in its latest report on Feb. 24 forecasts a Eur8/MWh premium for the Q1 2023 contract over Q4 2022 at Eur204.16/MWh, with gas input costs accounting for under Eur1/MWh.