Can the Paks-2 Nuclear Power Plant operate without State aid? A business economic analysis

Felsmann, Balázs (2015) Can the Paks-2 Nuclear Power Plant operate without State aid? A business economic analysis. Working Paper. Energiaklub Climate Policy Institute.

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Abstract

Many studies have investigated the prospects for returns, the budgetary and financing background and energy management effects of the new nuclear power plant units to be built at Paks. This document seeks to complement previous economics-based studies by adding a new criterion. The key question in our analysis is whether the power plant company will be capable of independent operations in an economic sense - or will its survival depend on further additional aid by the owner, i.e. via the central budget, after its commissioning? We shall examine from a corporate perspective in what ways the already disclosed financing terms and conditions may affect the everyday operations of the power plant company.

Item Type:

Monograph (Working Paper)

Uncontrolled Keywords:

Nuclear Energy, Investment, State aid, Nuclear Power, Hungary, Financial Model

JEL classification:

L94 - Electric Utilities
Q40 - Energy: General

Divisions:

Faculty of Business Administration > Institute of Management > Department of Strategic Management

Subjects:

Energy economy
Business economics

Funders:

Energiaklub Climate Policy Institute

References:

[1] Aszódi Attila, Boros Ildikó és Kovács Arnold (2014): A paksi atomerőmű bővítésének energiapolitikai, műszaki és gazdasági kérdései (Energy policy, technical and economic challenges of enlargement of the Paks power plant) Magyar Energetika, Vol. 21. No. 3., pp. 20-29.
[2] European Commission (2014): Energy prices and costs report. Commission Staff Working Document, SWD(2014) 20 final/2. Brussels, 17 March.
[3] Official Journal of the European Union (2015): Commission Decision (EU) 2015/658 of 8 October 2014 on the aid measure SA.34947 (2013/C) (ex 2013/N) which the United Kingdom is planning to implement to give support to the Hinkley Point C nuclear power station. Hungarian version, Vol. 58., 28 April 2015. L109. pp. 44-116.
[4] IEA (2014): World Energy Outlook 2014. International Energy Agency, 9 rue de la Fédération 75739 Paris Cedex 15, France.
[5] Matthes, F. (2014): The German Debate on the Future of the Energy Transition (the “Energiewende”). Heinrich Böll Foundation Energy Analysts Workshop. Budapest 17 April 2014.
[6] National Grid (2014): UK Future Energy Scenarios. National Grid plc., National Grid House, Warwick Technology Park, Gallows Hill, Warwick, CV34 6DA United Kingdom. July 2014.
[7] REKK (2013): Atomerőművi beruházások üzleti modelljei és várható megtérülésük (Business model and expected ROI on nuclear power plant investments). Műhelytanulmány, Budapest, 2013.
[8] Rogner, H. (2012): The Economics of Nuclear Power. International Atomic Energy Agency. Conference presentation, 15 March 2012.
[9] Romhányi Balázs (2014): A Paks II beruházás költségvetés-politikai következményei (Budgetary policy consequences of the Paks II investment) Energiaklub Szakpolitikai Intézet Módszertani Központ, Budapest, September 2014
[10] US EIA (2015): Analysis of the Impact of the Clean Power Plan. U.S. Energy Information Administration. Washington, DC 20585. May 2015.

ID Code:

2030

Deposited By:

Balázs Felsmann

Deposited On:

18 Aug 2015 13:56

Last Modified:

18 Aug 2015 13:57

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