By Giulia Petroni

Engie S.A. (ENGI.FR) said late Thursday that the Commission for Nuclear Provision increased the required provisions for dismantling Belgian nuclear power plants and managing nuclear waste by 2.1 billion euros ($2.3 billion).

According to Belgian law, nuclear provisions are reevaluated every three years and take into consideration the macroeconomic outlook, among other factors.

"The CNP's decision includes a reduction in discount rates reflecting the current environment of low interest rates and takes into account different expenditure horizons between dismantling and nuclear waste management expenditures," the French utility company said.

As of December 2018, Engie's nuclear provisions amounted to EUR11.5 billion in its consolidated statement.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

December 13, 2019 01:59 ET (06:59 GMT)

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