EDF's chief financial officer 'quits' over Hinkley Point project

Hinkley Point nuclear power plant Credit: Tim Ireland / PA Wire/PA Images

EDF's chief financial officer has reportedly resigned ahead of the firm's imminent decision to invest in building the Hinkley Point C nuclear power plant.

Thomas Piquemal is said to have been concerned about the company's decision to invest in the £18bn project, which he felt was being made too soon, potentially threatening EDF's financial position.

Mr Piquemal's resignation will cast further doubt over the French energy giant's plans to build the first new nuclear power plant in the UK in decades.

EDF is 85% owned by the French government. Credit: Anna Gowthorpe / PA Wire/PA Images

The company, which is 85% owned by the French government, recently made assurances that it was close to making a decision on the proposed project in Somerset.

However, it is believed to be struggling with rising debts due to other overrunning projects and the fall in energy prices.

Labour wants the Government to draw up a contingency plan in case EDF pulls out of the project.

Shadow energy secretary Lisa Nandy said on Friday that the future of nuclear energy in Britain "cannot just be about Hinkley Point C".

She said the project had been "hit by one delay after another" and highlighted the lack of a final investment decision.

"Given the power crunch we face, it is increasingly clear ministers need a plan B in case it is never built," Ms Nandy said.