Brussels to investigate Paks II funding

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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.

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