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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Hinkley 'strike price' below £90 if further plant agreed

The price falls to £89.50/MWh if a deal is agreed for a new plant at Sizewell in Suffolk. Credit: PA

Much of the value of today's nuclear deal will be judged on the "strike price" agreed - a pre-arranged price at which the Government ensures producers will be paid for the electricity they generate.

The Government confirmed that that strike price would be £92.50 per megawatt hour (around double the current rate) fixed over 35 years but rising in line with the CPI inflation rate.

That price drops to £89.50 if a deal for another new nuclear plant at Sizewell C is agreed.

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