The French market watchdog has levelled a €5m (£4.5m) fine against the energy giant EDF for misleading investors about the cost of the Hinkley Point C new nuclear project. The regulators found that the French state-owned energy company spread “false information” about its agreement with the UK government to build Britain’s first nuclear reactors in more than 20 years. The AMF, France’s financial markets authority, said the company may have set EDF’s share price “at an abnormal or artificial level” by claiming in a news release dated October 2014 that the terms of its deal with the UK government were “unchanged” from the 2013 agreement. “There had in fact been significant changes to the financing plan by guaranteed debt,” according to the AMF. They also levelled a €50,000 fine of €50,000 against Henri Proglio, EDF’s chief executive officer at the time, for overseeing the company’s failure to disclose key changes to the Hinkley Point contract. The fine was handed down amid growing frustration in France over the “unacceptable” delays and cost overruns at the Hinkley Point project, which EDF is building alongside the Chinese nuclear company CGN.
Guardian 31st July 2020 read more »
A manufacturing site in Bristol that supplies concrete for the construction of the Hinkley Point C nuclear power station has been closed after an outbreak of coronavirus. Reports claim the number of workers tested positive at Balfour Beatty’s site has increased to 22 – all workers are now said to be self-isolating and contact tracing is underway. The company shut the site for a deep clean of the facility last weekend, with a second one due to take place this week. Balfour Beatty said there had been no impact on the construction site at Hinkley Point C in Somerset.
Energy Live News 31st July 2020 read more »
BLACKBURN based firm Assystem UK has unveiled a new contract to support French company Edvance’s nuclear engineering projects in Britain. The one-year contract will see Assystem provide engineering services to the company and support it on several specialist nuclear engineering projects in the UK, particularly those related to the construction of the Hinkley Point C power station in Somerset, part of the European Specialised Reactor project. Company managers hope the move will give a vital boost to the economy in East Lancashire and the engineering sector more broadly.
Lancashire Telegraph 1st Aug 2020 read more »