March 17th, 2017

Euractiv – Energy analyst: New nuclear reactors will heavily increase Hungary’s debt

Hungary does not care about the requirements imposed by the European Commission on Paks II, energy analyst András Deák told EURACTIV Slovakia. András Deák is a senior research fellow at the Institute of World Economics of the Hungarian Academy of Sciences.(…)

Hungarian MEP Benedek Jávor (Greens) told me that the new power plant at Paks is like a veterinarian’s horse. It has all the illnesses it shouldn’t have. What do you think about it?

I agree more or less with Benedek Jávor. This project raises many questions. Nuclear management is very complex and the government did not answer the basic questions on this investment. Plus, the way they manage the project raises further questions.

Source: Energy analyst: New nuclear reactors will heavily increase Hungary’s debt

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  • András Deák is soon to be a former senior research fellow at the Institute of World Economics of the Hungarian Academy of Sciences…
    Whorban does not enjoy such treachery, then Fidesz, with its Canadian backers, have decided PAKS2 will be bringing Gold and Free Energy to Hungary(‘s leaders pockets).

    • Culturally Homogeneous Hungary

      Why would he be fired? Even a scum like András Deák is entitled to his opinions?

      • Who said fired?
        He will get the same treatment as everybody else who publicly opposes The Great Leader’s Vision

  • Culturally Homogeneous Hungary

    These scum don’t want Hungary to be energy independent and want us to rely on American oil! We will not be a colony!

    • Yes, Russian gas and nuclear power is so much better than Hungarian Thermal energy…

    • National Hiphop

      “Scum” have a choice while brain dead hardly have any. You could see that if you weren’t one of the latter, Pöri.

  • FUCeausescu

    Still no one talking about the prospect of gas exports through Ukraine collapsing some time after 2020. Nuclear can replace electricity in Hungary and region, which currently relies on gas imports. EU did not give a fuck about the energy security of the region when it obstructed South Stream. Only the energy security of Germany, Netherlands and a few others seems to matter to them, which is why Nord Stream 2 is happening. Hungarians do and rightfully should give a fuck about their own energy security, therefore the new reactors are necessary.

    • Still no one talking about the prospect of gas exports through Ukraine collapsing some time after 2020

      I do, then I am also not sure how long Putin will be able to cling onto power in Kremlin. It could be that the 2nd fall of the Russian Empire in just a few decades may be even messier than the first one and not only gas exports but also exports of nuclear technology and fuel and imports of spent nuclear fuel may stop working a few years later.

      And then what do you do with PAKS2…, especially as you think you can replace the whole Hungarian/Central European Gas network with an electrical grid…

      • FUCeausescu

        Please Mr. Viking, let us stick to reality, not your fantasies. Russia’s collapse is not any more likely than the collapse of your cherished globalist financial racket. In fact, some people believe that we were days away in 2008, and since then some things did not improve in that respect. I personally think it will start in Europe with sovereign debt defaults. At this moment there are at least four countries which would immediately go into default if the ECB were to be impaired from keeping interest rates low and we were to return to pre-2008 interest rates. Another five or so would go into default within a few years. My list of vulnerable countries includes Italy, Spain and France. Hardly small-sized problems such as Greece.

        As far as nuclear fuel goes, it is standard practice for reactors to have years worth of it on site. If regular supplies from Russia were to be disrupted for any reason, there would be ample time to find a replacement supplier. Replicating Russian nuclear fuel is not impossible.

        Reality Mr. Viking, not your outlandish fantasies.

        • let us stick to reality, not your fantasies, like the prospect of gas exports through Ukraine collapsing some time after 2020…

          After EuroMaidan has there been NO Ukrainian-initiated problems, ONLY from Kremlin…
          And Kremlin WANTS to stop transporting through Ukraine, so no “collapse” as you are claiming:
          http://tass.com/economy/773794
          “TASS/. Re-directing Russia’s gas supplies to Europe bypassing Ukraine from 2019 is a decided matter”

          This is Kremlin playing with Europe and you are just loving it. Nord- or South- or Turk-Stream or via Ukraine is up to Kremlin, not the EU/Europe. Russian Oligarchs will deliver the gas where they get the money, then that is what is driving Kremlin.

          • FUCeausescu

            That is Russia pursuing its own interests, as does the rest of this fucking world. And Hungary also has its interests to pursue. South Stream would have been in its interests strategically and economically, just like Nord Stream 2 is in the interests of Germany and a few others. Bottom line is that South Stream was obstructed by the EU-US, while it is increasingly obvious that Ukraine as a transit country will not continue for long, which means that Hungary needs to secure its energy, therefore the new nuclear reactors. This is the topic we are discussing. Hungary’s decisions, given the decisions of others, which affect the context. Russia no longer wants to rely on Ukraine, the EU wanted to obstruct South Stream, sacrificing the interests of fellow EU members, while it is allowing for Nord Stream 2, Hungary is left with nuclear, or face uncertain supplies.

          • You have still not explained your fantasies, like
            a) the prospect of gas exports through Ukraine collapsing some time after 2020,

            b) Replace Natural Gas with Electricity
            No need to heavily build out the Hungarian National Grid, which will take years and cost a lot of money?

            Nobody before has ever claimed that Gas-imports will be replaced with electricity from PAKS2…just the cost of replacing the extremely extensive gas network in Hungary, which is used not only for making food, but mainly for heating in both homes and factories, is enormous.
            But we better not talk about that, then the Fairy Tale is on PAKS2 – it will keep Whorban’s Swizz-pockets full for decades to come – that is the important – not that PAKS2 will increase the Hungarian State Debt with 1%-unit each year for the next 2 decades, forcing extremely hard budget cuts on any future Government.

          • FUCeausescu

            a) With Nord Stream complete, Russia will no longer need to export much through Ukraine. It will probably continue at much-reduced volumes for a while. At some point it will be Ukraine which will decommission the pipelines, because the transit revenues from the reduced volumes will not be enough to cover the costs of operating the massive pipeline infrastructure, which is already in a terrible state of disrepair.

            b) Infrastructure costs related to switching to more electricity may be significant, if it has to be a complete switch, but nothing compared with the costs of not having a reliable energy source. Retiring gas-powered electrical plants will not cost Hungary much. And I am not talking about a complete cessation of nat gas use. Hungary does have some domestic production and it should still be able to import some. I am talking about cutting nat gas use where economically feasible, which is desirable within the current context of future supply uncertainty thanks to the obstruction of South Stream, which you praised so much.

            I should also note that as things look right now, Hungary seems to be in good position to be able to finance the building of these reactors, while still able to keep deficits under 3% of GDP. Not bad, given that it is a one-time infrastructure investment, after which Hungary will gain an electricity source with very low operating costs. Your socialists were running an average deficit of about 7% per year in the 2002-2010. Hungary currently pays about $1 billion/year more in interest thanks to the increase in debt/GDP from that period. Can you point to some great capital gains that Hungary got out of that period?

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