BKW Energie AG

Decommissioning and Disposal
Updating of the cost estimate

Bern (ots) - Every five years the estimate of decommissioning and disposal costs for all Swiss nuclear power plants is comprehensively reviewed and updated. In this context, BKW FMB Energy Ltd. (BKW) has also drawn up a new cost estimate for the post-shutdown phase and dismantling of Mühleberg nuclear power plant. The estimated costs for the phase immediately following the shutdown of the nuclear power plant, as well as the expenses for decommissioning the facility and for nuclear waste disposal now amount to CHF 2.64 billion for BKW. Overall, the real costs are 11% higher compared with the previous study conducted in 2006.

The increase in estimated costs is attributable to the findings and empirical data on planning for deep geological repositories, the new estimate of the dismantling procedure during decommissioning based on the already advanced decommissioning projects, and the assumption of higher operating costs for the post-shutdown phase. The 2011 cost study also takes into account numerous expected changes in the regulatory framework as well as social and technical boundary conditions (trend in component costs, salary and insurance costs). The cost estimate has been accepted by the Commission of the Decommissioning and Disposal Funds as the basis for determining provisional contributions. It must now be reviewed by the Swiss Federal Nuclear Safety Inspectorate (ENSI). The contributions therefore remain provisional until the definitive assessment, which is expected by the end of 2012.

The cost estimate update means that the provisions and contributions to the funds must be revised accordingly. Overall, the provisions are expected to increase by approximately CHF 200 million. This adjustment is subject to an impairment test without affecting income. The write-downs and financial expense will increase over subsequent years. Based on an assumed term of 50 years, the depreciation expense is likely to be around CHF 20 million higher and the financial expense around CHF 10 million higher for 2012. The provisional annual amount to be paid by BKW into the decommissioning fund as of 2012 will be CHF 13.1 million, and for the disposal fund CHF 19.6 million.

The next cost estimate is scheduled for 2016.

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The statements contained in this press release constitute expectations and forward-looking statements. Because these statements are subject to risks and uncertainties,actual future results may differ materially from those expressed or implied by the expectations and statements.This media release is issued in German, French, English and Italian.The German version is authoritative.

Contact:

Antonio Sommavilla
info@bkw-fmb.ch
031 330 51 07



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