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Paks nuclear plant surpasses target

The state-owned Paks Nuclear Power Plant, Hungary's only nuclear power facility, saw after-tax profits of Ft 8.1billion - well over the Ft 7.5 billion target

Revenues from electricity sales came to Ft 130.4 billion in 2007, Paks deputy technical director István Hamvas said at a press conference in Budapest on Wednesday.

The management expects to propose paying out half of the profits as dividend and place the rest into profit reserves, Paks chairman Károly Molnár said. The dividend will be decided on at the company's AGM in April.

Paks said earlier it had after-tax profit of Ft 2.8 billion and revenues of Ft 110 billion in 2006.

Paks generated 14.68 TWh of electricity in 2007, 2.4% more than in 2006. Revenue per kWh was Ft 9.43 in 2007, almost half a forint more than in 2006, but still well under the Ft 12.30-Ft 15.60 price of conventionally generated electricity.

Paks' output is to expand again in 2009 as it uses up the rest of its older fuel cassettes. The output of Blocks II and III will increased to 500 MWh apiece in 2009. Output of Block IV and Block I increased to the same amount in 2006 and 2007, respectively.

The Paks management has still not discussed the plant's 2008 targets. (MTI-Econews)