Greenpeace is filing a complaint with the European Commission arguing that the French government’s recapitalization of state-controlled EDF amounts to illegal state aid for the utility’s plan to build nuclear plants in Hinkley Point, Britain. Greenpeace said the 3 billion euro ($3.33 billion) capital injection for EDF in March, plus 3.8 billion euros of foregone dividends since 2015 – the state leaves money in EDF by taking a share dividend instead of a cash dividend – are incompatible with European Union competition law. “Instead of acting like a smart investor, the state is providing unconditional support to EDF and its nuclear projects that threaten the health of the company, notably Hinkley Point. There is no economic logic,” said Greenpeace France legal campaigner Laura Monnier.
Reuters 17th May 2017 read more »