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Greenpeace taking case to European Commission against French government’s increased funding to EDF

Reuters 17th May 2017 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 HinkleyPoint, 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.   http://uk.reuters.com/article/us-edf-britain-subsidies-idUKKCN18D0MV

May 19, 2017 - Posted by | France, Legal

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