German cabinet to agree on nuclear storage deal on Oct. 19: sources

A hot air balloon with the logo of German energy giant E.ON flies at dawn in Ronda, southern Spain, July 21, 2016. REUTERS/Jon Nazca/File Photo

BERLIN (Reuters) - The German cabinet is due to take a decision on final funding from Germany’s top utilities in return for handing over responsibility for the storage of nuclear waste on Oct. 19, government and commission sources told Reuters on Tuesday.

The country’s top four energy groups -- E.ON, RWE, EnBW and Vattenfall -- are in final talks with Berlin to nail down the details of a deal proposed by a government-appointed commission in April.

Under the plan, the utilities are to transfer 23.3 billion euros ($26.10 billion) in funds to the state, along with responsibility and liability for storing their nuclear waste.

Provided the cabinet gives the green light to the deal on Oct. 19, it is likely that the new law will only take effect at the start of 2017 once it has been approved by parliament, the sources said.

Reporting by Markus Wacket; Writing by Caroline Copley; Editing by Madeline Chambers