The agreement signed on 21 July 2023 ("framework agreement") sets the framework for the continuation of negotiations between the Belgian state and Electrabel with a view to reaching a final and legally binding agreement, i.e. the "transaction document", in October 2023.
This agreement confirms what was validated in the month of June (including the lump sum of €15 billion for waste management) and establishes the Flex LTO scenario as the base case for further negotiations.
This Flex LTO scenario is subject to certain unavoidable conditions to ensure nuclear safety, which is ENGIE Electrabel's first priority:
- The on-time delivery of nuclear fuel by the manufacturer.
- Improvements to plant design, based on the nuclear safety requirements recently transmitted to ENGIE Electrabel by the Federal Agency for Nuclear Control.
- Qualification of equipment important for safety to ensure correct operation in all conditions. FANC must approve the condition of the facilities before each restart.
- Certain work to ensure the operational safety of the existing facilities must be carried out within 2 to 4 months in the case of a Flex LTO.
- The availability of highly specialised personnel and partner companies must be ensured, taking into account the tight schedule, which is even tighter in the case of a Flex LTO.
If all these conditions are met, ENGIE Electrabel currently sees no major obstacles to a restart in November 2025. We therefore maintain the same logic of a resource commitment as set out in the January 2023 agreement in principle.