Brussels to investigate Paks II funding
An official investigation has been launched by the EU to investigate suspicion of plans for unlawful use of a state subsidy in relation to the Paks nuclear power plant expansion project, known as Paks II, European Commissioner for Competition Margrethe Vestager wrote in a letter on Tuesday, online news portal 444.hu reported yesterday.
The investigation was launched on May 22 of this year and the Hungarian government has been informed about the action. A possible next step could be infringement proceedings against Hungary, 444.hu added.
The investigation was launched after EP member Benedek Jávor and Energiaklub submitted a study to the EU, which calculated that, based on currently known information about the expansion plans, the investment will never break even and the project would not be able to survive without a state subsidy, a practice restricted by EU regulations. Cabinet Chief János Lázár previously said in a press conference on 28 May that any concerns regarding state subsidies have been cleared.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.