EU Opens Investigation into Paks Nuclear Plant Financing

 EU Opens Investigation into Paks Nuclear Plant Financing

The European Commission (EU) opened an investigation into Hungary’s plans to finance construction of two nuclear reactors in Paks.
 
The EU will assess whether a private investor would have financed the project on similar terms or if Hungary’s investment constitutes state aid. If it is classified as state aid, the Commission will look into whether, as it stands, it would lead to distortions of competition in particular of the Hungarian energy market.
 
In May, Hungarian officials notified plans to invest in the construction of the two reactors at the Paks site. Hungary argues that the investment is on market terms. The EU will assess the business case for construction, operation and decommissioning of the two reactors on the basis of the agreed transaction terms and in view of the EU’s energy market projections.
 
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