French nuclear firm EDF in strife over costs of UK Hinkley project
Pressure rises on EDF board over Hinkley Point nuclear plant, FT.com, 19 Apr 16, Michael Stothard in Paris A group of managers at French utility EDF have sent a letter to its board of directors warning they could all face legal action if the company pushes ahead with its contentious Hinkley Point C nuclear project in the UK.
The letter, dated April 19 and seen by the Financial Times, said that if a board decision in favour of Hinkley Point led to the “destruction of the value” at EDF its directors could be held personally responsible……….
French president François Hollande is also meeting ministers at the Élysée Palace on Wednesday to discuss financing options for Hinkley Point. The French state has an 85 per cent stake in EDF.
The letter by the group of EDF managers highlights the internal battle that has raged within the company over Hinkley Point, with chief financial officer Thomas Piquemal resigning last month because of concerns that the UK project could threaten the company’s future…….
Two other nuclear projects in France and Finland using the same reactor technology proposed for Hinkley Point are both severely delayed and billions over budget…….. http://www.ft.com/intl/cms/s/0/d6d16bd0-0628-11e6-9b51-0fb5e65703ce.html#axzz46IzsG72i
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