Furthermore, it did not take into account risks and it considered no other alternatives, the institute added.

The EC said last November that it had launched an in-depth investigation into Hungary’s plan to provide financing for the upgrade of the Paks nuclear power plant. In the framework of the probe, interested third parties had until February 12, 2016 to send their comments on the planned investment to Brussels.

Energiaklub said that according to its calculations, the government would also have to finance the operation of the plant and not just the implementation of the investment itself.

This is why, the institute said, it is important for the EC to investigate the investment, because the repayment of the loan from Russia alone would place considerable burdens on the taxpayer.

If the EC were to find that the project involves government funding, it would have to determine whether that funding is in line with EU rules, Energiaklub noted. The institute said it believes that the government’s planned financing of the upgrade is incompatible with EU laws.

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