Commission Decision (EU) 2017/2112 of 6 March 2017 on the measure/aid scheme/State aid SA.38454 — 2015/C (ex 2015/N) which Hungary is planning to implement for supporting the development of two new nuclear reactors at Paks II nuclear power station (notified under document C(2017) 1486) (Only the English version is authentic)Text with EEA relevance.
Data as of 2026-07-04 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗
The measure which Hungary is planning to implement to financially support the development of two new nuclear reactors that are fully financed by the Hungarian State for the benefit of the entity MVM Paks II Nuclear Power Plant Development Private Company Limited by Shares (‘Paks II’) which would own and operate those nuclear reactors, amounts to State aid.
The measure is compatible with the internal market, subject to the conditions set out in Article 3.
Hungary shall ensure that Paks II shall use any of the profits deriving from the activity of units 5 and 6 of Paks II nuclear power plant (‘Paks II NPP’) for only the following purposes: (a) The Paks II project (‘the project’), which is defined as the development, financing, construction, commissioning, operation and maintenance, refurbishment, waste management and decommissioning of two new nuclear power units with VVER reactors 5 and 6 at Paks II NPP, Hungary. Profits shall not be used to fund investments in activities that are not within the scope of that defined project. (b) The payment of the profits to the Hungarian State (for example by way of dividends). Hungary shall ensure that Paks II refrains from (re-)investing in the extension of Paks II’s own capacity or lifetime and the installation of additional generation capacities, other than those of reactors 5 and 6 of Paks II NPP. Should such new investment be made, they would be subject to separate State aid approval. Hungary shall ensure that Paks II’s power output trading strategy will be an arms-length commercial profit-optimising strategy which is carried out through commercial trading arrangements concluded through bids cleared on a transparent trading platform or exchange. The strategy for the trading of Paks II’s power output (excluding own consumption of Paks II) shall be as follows: Tier 1. Paks II shall sell at least 30 % of its total electricity output on the day ahead, intraday and future markets of the Hungarian Power Exchange (HUPX). Other similar electricity exchanges can be used subject to the agreement or consent of the Commission’s services to be granted or refused within 2 weeks from the request by the Hungarian authorities. Tier 2. The rest of Paks II’s total electricity output shall be sold by Paks II on objective, transparent and non-discriminatory terms by way of auctions. The conditions for such auctions shall be determined by the Hungarian energy regulator, similar to the auctioning requirements imposed on MVM Partner (decision 741/2011 of the Hungarian Regulator). The Hungarian energy regulator shall also oversee the conduct of these auctions. Hungary shall ensure that the auction platform for Tier 2 is operated by Paks II and that offers and bids are equally available to all licensed or registered traders on the same market terms. The bid clearing system shall be verifiable and transparent. No restrictions shall be imposed on the final use of the electricity purchased. In addition, Hungary shall undertake that Paks II, its successors and affiliates are fully legally and structurally separated and subject to independent power of decision within paragraphs 52 and 53 of the Merger Jurisdictional Notice ( 151 ) and shall be maintained, managed and operated independent and unconnected from the MVM Group and all of its businesses, its successors and affiliates and other State controlled companies active in the generation, wholesale or retail of energy.
Hungary shall submit to the Commission annual reports on the fulfilment of the undertakings referred to in Article 3. The first report shall be submitted 1 month after the closing date of the first financial year of commercial operation of Paks II.
Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.