About KENFO

On 16 June 2017, the Entsorgungsfondsgesetz (German Act on the Nuclear Waste Management Fund) came into force, establishing the Nuclear Waste Management Fund. On 3 July 2017, the operators of the 25 German nuclear power plants met their legal obligation to pay a total of EUR 24.1 billion into the foundation's accounts. This is intended to secure the funding of the interim and final storage of radioactive waste. The bodies of the institution are the board of managing directors and the board of trustees. An investment council advises the board of trustees. The fund is subject to legal supervision by the Federal Ministry for Economic Affairs and Energy (BMWi). This supervision is exercised in agreement with the Federal Ministry of Finance (BMF) and the Federal Ministry for the Environment, Nature Conservation, and Nuclear Safety (BMU). The fund is based in Berlin.

KENFO is the largest foundation under public law in Germany with around EUR 24 billion in funds under management. It was formed with a one-off payment and the Entsorgungsfondsgesetz does not provide for any further additions to the fund's assets, it is a limited-term endowment. The federal government is currently being reimbursed a three-digit million amount annually for the costs of safe interim and final storage. The foundation is efficiently staffed and, in addition to its three board members, employs a small, highly motivated team of around 48 staff members.