Hungary: NPP Paks produced 54% of domestic electricity portfolio in 2014

, SEE Energy News

In 2014 the Paks Nuclear Power Plant was the most important electricity producer in Hungary

Last year, PAKS NPP produced  53.6 percent of gross domestic electricity production. The NPP is did not had any major technical problem, and the number of minor technical disturbances also fell.

However, the company report did not sound too positive because of the sentence “Paks produced the cheapest electricity” and it may be two reasons for this. First, the MVM Group has no official view of the prices of rival producers, on the other hand, the Matra power plant is working with fairly low cost. However, based on the data presented in NPP Paks business report, costs of electricity production were lower in 2014 than in 2013, while NPP Paks increased the production for 2.9 percent, while revenue fell 6.8 percent to 564MEUR.

President and CEO, also Chairman of the Board of Paks company, Csaba Baji emphasized that MVM nuclear portfolio may expand if MOL succeed with  Slovnaft acquisition dea. Last year MOL submitted a non-binding bid and the Italian seller may decide as early as April, to whom to sell its assets.

In NPP Paks, out of four, three blocks are included in the world’s top five power utilization block.