Financial matters

The financial agreement has been published only in Russian;

there are no publicly available estimations on the overall costs;

there is no reliable information on how the risks will be shared;

no timeframes are publicly available for the construction;

the government refused to make all background studies, analysis, documents public for 10 years, which would substantiate the decision;

while 20% of the project must be covered by the Hungarian side, there is no information on how this share will be ensured;

it is unknown, what parts of the overall investment belong to the project, and what parts of this project will the Russian loan cover;

so far no official calculation has been made public on economic matters like finance, levelized cost of electricity, rate of return;

according to independent analyses the price of electricity produced by Paks 2 will be over 100 €/MWh;

according to the government communication, costs of the state loan will not be put into the price of electricity generated by the new units, and state loan will be paid back from the state budget; there has been no statement made about the cost of capital arising from the 20% share to be paid by the Hungarian side;

there has been no statement made on the finance of the necessary additional investments (investments that are needed for installing the two 1200 MW nuclear units into the electricity system, e.g. reserve capacities, pumped storage capacity, development of the grid, or such investments at Paks the costs of which cannot be covered by the Russian loan), although the price tag of these investments could easily reach or exceed 3 billion euro.