Hinkley builder EDF profits fall short on plant hitches

EDF today admitted technical problems at some of its French nuclear plants had hit profits, which will be seized upon by critics of plans for it to build Britain’s Hinkley Point nuclear power station.

Net profit at the French state-controlled utility in 2016 was €2.85 billion (£2.42 billion), sharply below analysts’ expectations of more than €3 billion.

Low energy prices had an impact too, but the firm’s nuclear output in France fell during the year as reactors were shut down over faults and additional tests were demanded by the national nuclear safety authority.

EDF last week saw an explosion rip through one of its nuclear plants near the English Channel after a fire in a reactor engine room.

It was forced to stop operations at 18 plants last year after high carbon levels were found, although all but one of the plants have restarted.