Mar 22, 2016

Paks nuclear power plant guarantees low cost energy

Nuclear power is the cornerstone of secure energy supply in Hungary today, and this will remain so in the long run, declared Miklós Seszták, minister for national development, after visiting the Paks Nuclear Power Plant on 21 March 2016. According to the minister, the nuclear power plant, which operates increasingly efficiently due to improvements, is also essential for maintaining the results of utility rate cuts.

"Reducing Hungary’s energy dependence is only conceivable through sustainable energy generation, and the Paks Nuclear Power Plant has had a key role in this for more than three decades,"  Miklós Seszták said, who had met during the visit with the employees of the Paks Nuclear Power Plant and had also had talks with nuclear power plant executives and trade union representatives. The Minister for National Development emphasised that the Government paid special attention to the facility, which guaranteed sustainable utility rate cuts and low cost energy.

The Minister pointed out that it was essential that the nuclear power plant operated as safely and efficiently as possible. As an example of the continuous improvement of efficiency, he mentioned the recent introduction of a 15-month operating cycle, which was based on the use of a new fuel assembly engineered through the cooperation of the Hungarian nuclear industry and scientific community. Miklós Seszták pointed out that good progress was also made in the lifetime extension of Units 3 and 4, which would ensure the operation of the Paks Nuclear Power Plant for an additional 20 years. "The safety of the operation of the facility is a requirement that is at least equivalent to production efficiency. The Government continues to reckon with the responsible and committed work of the employees in maintaining and increasing safety" the Minister for National Development said.

Péter Chiba, Chairman and CEO of MVM Hungarian Electricity Ltd., recalled that the Paks Nuclear Power Plant, which belongs to the MVM Group, closed a record year in 2015, in terms of both the electricity output and safety indicators. "Without the several decades of commitment of our employees working at Paks, the power plant would not be where it is now. As a shareholder, we believe that this successful team must be appreciated", the Chairman and CEO emphasised. Péter Chiba underlined that only MVM could guarantee energy supply to Hungary in the long term, in a stable way and at an affordable price level. The Chairman and CEO believes that this will be sustainable in the long term if the Paks Nuclear Power Plant continues to operate as a member of the MVM Group.

"Increasing safety and efficiency are ongoing objectives for the nuclear power plant. With this in mind, the introduction of diesel generators during operation and the overhaul of the turbines will also begin this year. As a result of this work, the availability of the Paks Nuclear Power Plant, which is outstanding by international standards, keeps improving, thereby increasing the quantity of electricity generated at low cost and in an environmentally sound manner, without carbon dioxide emissions", István Hamvas, CEO of Paks Nuclear Power Plant Ltd said.