EDF finance chief quits ahead of Hinkley Point decision

EDF has confirmed that its finance director has quit ahead of an expected final investment decision on the £18bn Hinkley Point nuclear power plant. Thomas Piquemal stepped down because he feared the project could jeopardise EDF's financial position, according to reports.

The new nuclear plant will be built next to two existing facilities at Hinkley Point in Somerset

 EDF shares opened 8.2% lower on Monday. Last month, Chris Bakken, the director of the project that could produce 7% of UK electricity by 2025, said he was leaving to pursue other opportunities.
Jean-Bernard Levy, chairman and chief executive of EDF, said that he regretted the "hastiness" of Mr Piquemal's departure.


The company's board is expected to finalise in April how it will fund the project after postponing the decision a number of times.

Mr Levy said: "With the support of its state shareholder, EDF confirms it is studying the investment in the two Hinkley Point reactors in the best financial conditions for the group, with the aim of announcing a final investment decision soon."