Rothschild Offers Upbeat Study On Hungarian Paks Nuclear Power Plant

  • 23 Dec 2015 8:00 AM
Rothschild Offers Upbeat Study On Hungarian Paks Nuclear Power Plant
The expansion of the Paks nuclear power plant is not being carried out in a way that violates EU competition rules and is an investment that will recover its costs without state subsidy, according to a study by the Rothschild Group, released yesterday by the Prime Minister’s Office. Government commissioner for the expansion project Attila Aszódi said the financial consultant’s analysis will be sent to EU Competition Commissioner Margrethe Vestager.

The Rothschild Group helped to broker the deal between Russia and Hungary for the Paks expansion, signed in January, 2014.

Last month, the European Commission announced that it would conduct a thorough investigation into whether the government’s investment in the expansion project constitutes illegal state aid.

Rothschild reports that the project is in line with European regulations.

Rothschild writes that electricity prices will rise considerably in the coming years, and will exceed production costs, thereby guaranteeing profitable operations without the need for capital injections from the state.

The entire 86-page, English-language report has been published on the project company’s website

Source: Hungary Around the Clock

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MTI photo: Sóki Tamás

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