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New Hinkley Point warning for EDF from France's public auditor

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New Hinkley Point warning for EDF from France's public auditor
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There has been another warning about EDF’s planned nuclear reactor project at Hinkley Point in Britain.

The complexity of the deal and especially the way it could impact the responsibility of EDF raise serious questions

France’s top public auditor has said the controversial plan is potentially risky for the state-controlled power firm.

As part of a report on EDF’s international strategy, the Cour des Comptes said the company – which is 85 percent owned by the French government – should closely examine the risks.

EDF’s high debt and negative cash flow are mentioned as factors which limit its foreign investments.

“Even though the (Hinkley Point) deal has not been finalised, the complexity of the deal and especially the way it could impact the responsibility of EDF suffice to raise serious questions,” the auditor said.

The warning comes days after EDF’s finance director resigned over concerns about its ability to pay for the project.

In 2013, EDF had planned to take a minority stake in Hinkley Point, but in the end only Chinese utility CGN agreed to take a one-third stake.

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