Investments
To manage the investments linked to the nuclear provisions, SYNATOM relies on a dedicated team and an Investment Committee composed of experts. This Committee oversees investment decisions in accordance with a policy defined by the Board of Directors, aimed at controlling risks while achieving performance objectives and ensuring sufficient risk diversification.
The investment target has been adjusted based on the Phoenix agreements.
The objective has been divided into two distinct parts:
Assets linked to provisions for the treatment of nuclear waste
These assets are transferred to Hedera*, a public institution that was created by the Belgian State upon closing of the Phoenix agreements related to the transfer of financial responsibility for the management of this waste to the Belgian State. The objective is to safeguard the value of the underlying assets through investments in monetary instruments, ensuring a return that is at least equivalent to the indexation of the lump sum amounts set out in the Phoenix agreement.
*Hedera: public institution that will house the 15 billion EUR paid by ENGIE for full and final settlement.
Assets related to residual provisions for dismantling and on-site storage
The objective is to ensure a sufficient return, with an acceptable risk level, to cover the costs of dismantling and storage of spent fuel, while respecting the constraints of diversification, risk minimization and availability defined by the act of 12 July 2022.