Nuclear deal given go-ahead

A deal to build Britain's first new nuclear plant in a generation has been announced. The government has been in negotiations with EDF Energy over the Hinkley Point C project in Somerset for more than a year.

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Davey insists strike price is 'good value' for Britain

Ed Davey insisted the deal was "good value" for Britain. Credit: PA

Energy Secretary Ed Davey has hailed a landmark deal to build Britain's first new nuclear plant in a generation.

But ministers are likely to face criticism over the report price that will be paid for electricity produced at the Somerset - around £90.00 per megawatt hour according to reports - which around double the current market rate.

"We think it would be good value if (the strike price) was a little higher," the Liberal Democrat Cabinet minister said.

"I was determined to get them below £90 so I could prove to everybody we had got a good deal...

"What has driven a tougher deal is the fact that I made clear we could walk away from the table. We had other nuclear options."

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