Thomas Piquemal’s resignation as Finance Director of EDF, over his concerns about the cost of the proposed new Hinkley Point nuclear power station, has been hailed by anti-nuclear campaigners as a sign of imminent collapse of the project. However it may well be that the opposite is true and the final investment decision is finally about to be made.
Piquemal is known to have been skeptical about the financial risk for the company and the timing of his resignation comes only a week after the last meeting between Prime Minister David Cameron and President Hollande. Given the strong support from both governments for the deal (which was again expressed following the summit) it seems likely that the EDF has been given the green light by the French Government to complete the deal and it is this that has prompted the resignation.
So rather than being the end of the project it could be the first signs of the approach of the construction phase.
In the meantime Xavier Girre has provisionally been appointed as Group Senior Executive Vice President, Group Finance to handle company finances.