Jetty and water

Vattenfall secures EUR 1.6 billion settlement

In 2012, Vattenfall AB and a number of its subsidiaries incorporated in Germany initiated arbitration against Germany pursuant to the Energy Charter Treaty (ECT), a multilateral investment protection treaty. Vattenfall claimed compensation for losses incurred due to Germany’s decision in 2011 to prematurely phase out nuclear power production in Germany. The decision resulted in early shutdown dates for nuclear power plants co‑owned by Vattenfall. The decision was also challenged before the German Federal Constitutional Court.

In March 2021, a settlement was reached, implementing two decisions by the Constitutional Court. The settlement includes compensation to Vattenfall in a sum of appr. EUR 1.6 billion, of which appr. EUR 1.4 billion in the form of a direct payment from Germany. The principal terms of the settlement were enacted as an amendment to the German Atomic Law as of 31 October 2021. Thereafter, the ECT proceedings have been discontinued and Vattenfall has received payment from Germany in accordance with the settlement.

Vattenfall was represented by Mannheimer Swartling and Luther (ECT proceedings) as well as Redeker Sellner Dahs (German courts).


This website uses cookies to perform certain functions and help you navigate the site efficiently. A cookie is a text file with a small amount of information that is stored on your device. We share some of the information we obtain through these cookies with third parties. We only use cookies that are necessary for the site to function correctly and they therefore cannot be turned off. For further information, see Information on the use of cookies.