EDF's application to build Sizewell C has been submitted to the Planning Inspectorate after being deferred for 2 months due to the coronavirus pandemic.
If approved it will provide enough electricity to power 6 million homes and will create around 1000 apprenticeships and 25,000 jobs.
John Dugmore, the Chief Executive of Suffolk Chamber of Commerce, says it'll also provide a big boost to the local economy:
But those campaigning against it continue to say the location is not suitable and the impact on the local area will outweigh the benefits.
The Stop Sizewell C campaign group which opposes the scheme warns it is costly, diverts investment from other green energy sources such as renewables and would damage tourism and nature in the area.
Alison Downes, of Stop Sizewell C, also criticised the move to submit theapplication during lockdown.
EDF said extra measures will be put in place to make it easier for localcommunities to scrutinise the proposals once they are published.
Sizewell C will be a near replica of Hinkley Point C in Somerset, reducingconstruction costs and risks, according to EDF, which has partnered with China General Nuclear to build reactors in the UK.
Hinkley Point C is under construction with a contract to receive a guaranteedprice for its power, of #92.50 per megawatt of electricity it generates, whichwill drop to #89.50/MWh if Sizewell C goes ahead.
But with the price of other power sources such as offshore wind falling to much lower levels, an alternative funding model for nuclear schemes could be used which it is hoped will attract investment and bring down costs.
Humphrey Cadoux-Hudson, managing director of the Sizewell C project, said:
He said the construction of Sizewell C will prevent nine million tonnes ofcarbon dioxide being pumped into the atmosphere each year, compared toelectricity generated by gas plants.
The planning process is likely to take 18 months to complete and the Government will make the final decision on whether to give the green light to the scheme.
Check out Victoria Lampard's report below: