David Cameron hails nuclear power plant deal as big day for Britain


David Cameron has hailed the UK government agreement with French-owned EDF to build the first new British nuclear power station in 20 years, saying it was a very big day for Britain and would kickstart a new generation of nuclear power in the UK, writes the Guardian.

The energy secretary, Ed Davey, claimed it was a great deal for consumers and would result in energy bills falling by more than £75 by 2030.

He added: “If we don’t make these essential investments… we’re going to see the lights going out.”

The 35-year deal, struck at £92.50 per megawatt hour, is twice the current wholesale market rate for electricity, and will be attacked by some as a massive subsidy to help another non-carbon fuel, with the funds going to the French taxpayer and the Chinese government, which has a minority stake to build the new plant at Hinkley C in Somerset.

Read more on this story at The Guardian