Employee ownership association of EDF warns risks of construction are 鈥榯oo great鈥�
EDF staff have warned their employer鈥檚 plans to build the 拢18bn Hinkley Point C nuclear power plant in Somerset could put the company鈥檚 future at risk.
EDF Actionnariat salari茅 (EAS, translated as EDF Employee Ownership), which owns a 1.7% stake in the French energy giant, said the 鈥渇inancial risks鈥� of the power plant are 鈥渢oo great鈥� and could 鈥渢hreaten the survival of EDF鈥�.
The shareholder association also said it asked EDF earlier this year to abandon its involvement in the project.
In a statement (translated), it said: 鈥淭he employee shareholders of EDF are concerned about the impact of the British nuclear project Hinkley Point.
鈥淓DF Employee Ownership, which earlier this year had a 1.72% stake in the energy company, asked the group to abandon the project; the financial risks are too great and could threaten the survival of EDF.鈥�
Hinkley Point C is seen as a key project to help the government meet its carbon emissions target, with the Department for Energy and Climate Change (DECC) claiming the plant will provide low carbon electricity to six million homes.
The news comes after City broker Investec Securities advised investors to sell their shares in EDF last month, saying it has 鈥渓ong-term concerns鈥� over the financial impact of Hinkley Point C to the French firm.
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