100,000 people lined the streets last night for the Bridgwater Carnival.
David Cameron has insisted that plans for the UK's first nuclear power station in a generation at Hinkley was "not a deal at any price".
The Chancellor has given formal Government approval for Chinese state-run firms to buy into British nuclear power - should we be worried?
"We calculate that by the end of the next decade - by 2030 - this will actually be saving consumers money," Energy Secretary Ed Davey told ITV Daybreak.
"We think the average consumer will be saving £77 a year on their bill thanks to the new nuclear programme that we're putting forward."
Prime Minister David Cameron said: "As part of our plan to help Britain succeed, after months of negotiation, today we have a deal for the first nuclear power station in a generation to be built in Britain.
"This deal means £16 billion of investment coming into the country and the creation of 25,000 jobs, which is brilliant news for the South West and for the country as a whole.
"As we compete in the tough global race, this underlines the confidence there is in Britain and makes clear that we are very much open for business.
"This also marks the next generation of nuclear power in Britain, which has an important part to play in contributing to our future energy needs and our longer term security of supply".
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."
Chancellor George Osborne has announced that the government is to give the go ahead to Chinese firms taking a stake in the development of the next generation of British nuclear power.
He made the announcement at Taishan nuclear power station in Southern China on the final day of his visit to China.
The Chancellor said: "Today is another demonstration of the next big step in the relationship between Britain and China - the world's oldest civil nuclear power and the world's fastest growing civil nuclear power.
"It is an important potential part of the government's plan for developing the next generation of nuclear power in Britain. It means the potential of more investment and jobs in Britain, and lower long-term energy costs for consumers."
The Chancellor George Osborne will agree a deal this week that will see a Chinese firm become one of the main players in the building of a new nuclear power plant for Hinkley Point. It's a move that is welcomed by businesses in the area that will benefit.
Bob Constantine reports.
The Government announced in 2010 that Hinkley Point was one of 8 sites suitable for a new reactor. Then in 2011, EDF submitted a plan for development of a new reactor at the site, Hinkley Point C, and a new nuclear licence was awarded in 2012 - the first since 1987.
But since then the Government and EDF have been negotiating over the proposals, with a major sticking point being the guaranteed price paid for energy produced by the new reactor.
If the construction goes ahead the reactor could supply up to 7% of the country's energy needs.
The Energy Secretary Ed Davey has hinted that a new deal to build a reactor at Hinkley Point is close. Speaking at the weekend he said that Britain's energy sector was set to benefit from billions of pounds of investment from the Far East.
Mr Davey said "The Chinese, along with the Japanese and the Koreans are very interested in the opportunities in the British nuclear sector. I think it is really possible we will see massive Chinese investment".
Recent reports have suggested that the Chinese are set to take a stake in the consortium seeking to build the new reactor at Hinkley Point in Somerset
The largest travelling funfair in the south west opens in Bridgwater later this morning (11.30 am), as it has for nearly 8 hundred years. The charter of King John decreed that it should be held on the last Wednesday of September.
A street market and horsefair is also taking place in the town today as part of the fair, which runs until Saturday.
– Morrisons' spokesman
We buy the milk sold in our stores directly from a processor, who set the price received by the farmer for each litre they produce. The increases we have made in the amount we pay to processors since last summer have resulted in a rise of more than 4p per litre for farmers, bringing milk prices to their highest level in recent years.”