Engie finalises nuclear agreement with Belgium, sees debt rise 2.7 billion euros

By America Hernandez

PARIS, Nov 6 - French utility Engie ENGIE.PA has finalised its agreement with the Belgian government to transfer ownership and liability of two nuclear reactors, its CFO said at a results call on Thursday.

"Net financial debt is up 2.7 billion euros" as a result, Pierre-Francois Riolacci said.

Engie CEO Catherine MacGregor said it was good news because the long-term liability costs for decommissioning those nuclear plants in future would be off the company's books.

In October Engie restarted the Doel 4 nuclear reactor in Belgium, one of three still operating in the country.

That restart triggered the final payment Engie is required to make to the government as part of a deal to transfer the two youngest reactors into a joint venture set to run for the next 10 years.

The last remaining older unit will shut down by the end of the year.