Tuesday 26 July 2016

EDF headquarters raided before Hinkley decision

French authorities have raided energy company EDF's headquarters in France.

Investigators from the Financial Markets Authority (AMF), an independent regulator, visited the offices last Thursday as part of a probe into EDF’s disclosure of information to the market.

An EDF spokesperson confirmed the raid took place last week but didn't make any further comment.

The news comes just days before the decision on Hinkley Point is expected to be made.

Last week EDF said it would hold a board meeting on 28th July about the £18 billion nuclear project, which reports claim was announced just hours after the raid.

Plans to develop the nuclear plant in Somerset as well as concerns about the reporting of its domestic nuclear maintenance costs are said to be the primary focus.

Local media reports claim the AMF left with a series of documents and have requested a meeting with EDF General Secretary Pierre Todorov.

The former Department of Energy and Climate Change, now the Department for Business, Energy and Industrial Strategy, estimated the total cost of Hinkley Point C could reach £37 billion.