In March 2017, the European Commission approved the state aid package from the Hungarian government to invest in two new nuclear power reactors at Paks II. The Commission’s approval decision cited NERA’s empirical work on more than 20 occasions.
Working with a combined team of energy and competition specialists—led by George Anstey, Vakhtang Kvekvetsia, Grant Saggers, James Grayburn, and Sean Gammons—NERA supported external counsel, the investment bankers, and the Hungarian government through the process.
Over a period of two years, the team conducted various modelling analyses of the affected electricity markets, engaging directly with the Commission via information request responses and expert reports.
The workstreams included: