March 6th, 2017

European Commission Green-Lights State Aid To Hungary’s Paks II Nuclear Upgrade Project – Hungary Today

The European Commission has granted its approval to the Hungarian state’s providing a subsidy to the Paks nuclear power plant upgrade project, according to a statement issued by the EC on Monday.

Construction work on the upgrade of Hungary’s sole nuclear power plant is due to start next year, with financing from Russia.

Source: European Commission Green-Lights State Aid To Hungary’s Paks II Nuclear Upgrade Project – Hungary Today

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  • “The European Commission has concluded that Hungary’s financial support for the construction of two new nuclear reactors in Paks (Paks II) involves state aid. It has approved this support under EU state aid rules on the basis of commitments made by Hungary to limit distortions of competition,” the statement said.

    Yeah, that we all believe…for Fidesz there are never any obligations, except lining up their own pockets, so this will be an extremely expensive venture that will only make Russian and Hungarian oligarchs richer and Hungarian tax and electricity payers poorer.
    The next few years it must be the biggest prio to cancel this extremely bad deal for Hungary.

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