BKW Energie AG

Decommissioning and Disposal Funds
Planned amendments to the SEFV

Bern (ots) - The Federal Department of the Environment, Transport, Energy and Communications (DETEC) / the Federal Council is proposing to amend the parameters for calculation of contributions to the Decommissioning and Waste Disposal funds in relation to revision of the Stilllegungs- und Entsorgungsfondsverordnung (SEFV; Ordinance on the Decommissioning and Waste Disposal Fund). If the changes come into force, this will necessitate much higher payments into the funds.

As part of a revision of the Ordinance on the Decommissioning and Waste Disposal Funds (SEFV), the DETEC/ the Federal Council intends to adjust the estimates of inflation and return on investment (ROI) among other things that are used to calculate contributions to the Decommissioning and Waste Disposal funds, and to introduce an uncertainty allowance. A general inflation rate of 1.5 % and a return on investment of 3.5 % will be applied. The cost estimate will also now take account of the uncertainty allowance of 30%.

The existing calculation model has proven itself to be reliable. It ensures now that the required funds will be available at the time of decommissioning. Uncertainties and new insight will be taken into account as part of a cost estimate which will take place every 5 years. In this context, the uncertainty allowance proposed by the DETEC/ the Federal Council is deemed unnecessary and unreasonable. It only focuses on negative developments and does not take account of potential technology-related cost reductions.

The application of the proposed uncertainty allowance will lead to high additional payments. If the Mühleberg nuclear power plant were to be decommissioned in 2022, payments of around CHF 600 million would need to be paid in for the years 2012 to 2022 instead of around CHF 300 million. This would unnecessarily deprive BKW of essential financial resources which are required to implement the Federal Council's energy strategy for 2050.

Application of the new parameters relating to decommissioning and disposal provisions would also have a substantial impact on the annual results and balance sheet for BKW. Provisions would need to be increased by around CHF 300 million, without taking the effects of the interest in the Leibstadt nuclear power plant into account. It is assumed that an important part of this would be charged to income immediately.

BKW stands by its commitment to set aside appropriate provisions for the decommissioning to safeguard the financing. It has implemented all of the required measures to achieve this. The adaptations proposed by the Federal Council are in excess of what is required and would weaken BKW unnecessarily. BKW intends to support an appropriate modification of the parameters within the scope of the upcoming consultation.

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@bkw.ch; tel. no.: 058 477 51 07



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