EDF is also under pressure from investors. The firm’s share price has fallen by more than 50% in the last 12 months and it’s been thrown out of the top tier of the French stock market, leading a French association of employee-shareholders (EAS) to suggest the scheme is so expensive and so risky that it puts the survival of the French utility at risk.
In its letter to the board the CFE union noted the EU had rated investment in Hinkley as “speculative”. Infrastructure UK has given the project BB+ rating, which is below investment grade. If it does go ahead Hinkley Point C would be the latest – and possibly final – attempt by EDF to build a reactor to its trouble-hit “EPR” design, which has been beset by construction difficulties and safety glitches. Projects are currently running over-budget and over-time in China, Finland and France…<last news about Hinkley was steel of containment vessel not to specification, not dangerous but shortened service life>