The Government of Hungary is convinced that the contractual framework of the Paks II project is highly advantageous in economic terms. Moreover, in terms of security of supply, competitiveness and climate protection there is no alternative to this project for maintenance of capacity.
Hungary is committed to a transparent and constructive dialogue. This open and cooperative attitude has allowed us to successfully overcome all difficulties in Brussels: this April the European Union, as a third party, approved the fuel supply contract; and in September Brussels informed the Government of Hungary that – in terms of energy and climate policy, as well as energy security and nuclear safety – the Paks II project is in line with the objectives of the Euratom agreement.
The Government of Hungary’s firm position is that the Paks II project does not involve state aid, and a rational investor would also implement the investment, as its expected return is higher than the costs of the capital invested. At the same time, the Government is committed to keeping the Paks Nuclear Power Plant in state ownership, because Hungary’s energy security – as well as cheap energy prices for households, and competitive ones for companies – can only be guaranteed in this way. The issue of prohibited state aid has not arisen, either at any point during discussions which have now been ongoing for almost two years, or in relation to the current decision. Furthermore, the Commission has formulated no statements which would contradict the Hungarian position. However, as stated by Commissioner Margrethe Vestager, a comprehensive analysis will be conducted “given to the size and importance of the Paks project”.
The Government of Hungary is ready to face this investigation; we will prove that the project does not involve prohibited state aid. The Government of Hungary also wishes to make clear that Russian funding has not been drawn upon.