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RWE To Sue After German Nuclear Plant Shut-down Ruled Illegal

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January 14, 2014 AT 6:02 AM
Germany's No.2 utility RWE is preparing to sue for millions of dollars worth of damages, after a federal court confirmed that a state's decision to shut down the company's Biblis nuclear plant for three months in 2011 was illegal. A spokeswoman for RWE said it planned the lawsuit over Biblis, Germany's oldest nuclear plant, which the German state of Hesse had ordered closed as a precaution following the disaster at Japan's Fukushima plant. The spokeswoman declined to comment on the potential size of the claims, but industry analysts have estimated that RWE suffered about $255 million in damages as a consequence of the forced shut-down.