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 route electricity will take as it's carried from the proposed new nuclear power station at Hinkley Point has been revealed.
It'll mean around 140 new pylons will be put up along a route stretching 34 miles across Somerset.
But the National Grid says it'll bury some of the new cable underground and the new pylons will cause less disruption to the countryside.
But those who've protested over the issue say they're not being heard.
John Bevir reports:
Whatever your views on the power lines from Hinkley Point C, whether like me, you believe beautiful Somerset shouldn’t be spoiled by unnecessary Pylons or not, this is the consultation to respond to; your responses will be seen by the planning inspector and will in the end make a difference to our countryside.
It is vitally important that we take this opportunity to tell National Grid what we want, whether that is under-sea, under-ground or over-ground. Importantly, we must tell them why their proposals are wrong or right for our area. You do not need to understand or go into the technical details of the plans; you simply need to give your thoughts.”
Each household will receive a copy of the National Grid ‘Project News’ and a disc with all the information about the project on it. Hard copies of all the information can be picked up at the National Grid information point in Mark Village Hall.
Tessa has also asked for paper copies to be put in her office in Wedmore.
There will also be a public Q&A session on Saturday 21st September in Mark Village Hall.
An exhibition will be held from 9:30am to 2:30pm and the Q&A will follow on after from 3:00pm to 4:30pm.