Hungary halves Paks contract term for supply of Russian nuclear fuel

Paks Nuclear Power Plant, Hungary

Paks Nuclear Power Plant, Hungary

Hungary halves Paks contract term: Bending to pressure from the EU, Hungary has agreed to cut the length of the Paks nuclear fuel supply contract that it signed with Rosatom earlier this year from 20 to 10 years, according to the Financial Times 
Commissioned in 1982, the Paks Nuclear Power Plant in central Hungary is its first and only operational nuclear power station whose four reactors produce more than 40% of the electrical power generated in the country. In January this year, the Hungarian government contracted Rosatom to build two new VVER-1200 reactors that are due for completion in 2023. Anxious to reduce Hungary’s dependence on Russia and to stimulate competition, the EU has been contesting the fuel supply element of the overall agreement which stipulated that Hungary would buy its nuclear fuel from Russia for the next twenty years.

Source: Vedomosti