Monday, 7 March 2016

EDF chief resigns over UK cost

Thomas Piquemal, the financial director of electricity giant EDF, has resigned over the risks to the group of the two nuclear power stations to be built at Hinkley Point, in England.
The cost is estimated at 23.2 billion euros which he reckons will put the group's financial stability at risk at a time when energy markets are depressed. A decision is expected next month to go ahead with the buildings, due to enter service in 2025.
EDF is one of the UK's biggest electricity providers and is 84.5% owned by the French government.
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