 The Chancellor announced a new government guarantee, provided by Infrastructure UK, for a new nuclear power station planned for Hinkley Point C in Somerset.
The initial deal is set to be worth around £2 billion and will pave the way for a final investment decision by energy company EDF, supported by China General Nuclear Corporation and China National Nuclear Corporation, later this year.
The construction and operation of Hinkley Point C will create thousands of jobs in Somerset and more widely in the nuclear industry across the UK, as well as boosting Britain’s energy security.
The new plant is expected to produce enough energy to supply 7% of the country’s needs, powering around six million homes.
Energy Secretary Amber Rudd said: "New nuclear power is a vital part of our long-term plan to provide secure, clean energy supplies that hardworking families and businesses can rely on in the decades ahead."
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Our ‘Power to Switch’ campaign, encouraging people to switch their energy supplier or tariff saw 130,000 households save £38 million in February and March this year.
To encourage even more households to save and join the thousands switching (see EnergyUK figures for July), we are launching the second phase of ‘Power to Switch’ phase two in October. This will focus on working with partners to highlight the ease of switching and that many people could save £200. The campaign period will include Big Energy Saving Week, a DECC funded initiative delivered through Citizens Advice and Energy Saving Trust helping vulnerable consumers. A toolkit of infographics and case studies is available if you would like to get involved. Simply email or phone Lucy Anderson on 0300 068 5609 to get involved or get more information.
The Government is committing to substantially increase the amount of funding we are providing to help the most vulnerable countries protect themselves from the effects of climate change. The UK’s money for climate activities will be increased by at least 50%, to a further £5.8 billion of funding from April 2016 to March 2021, from within the existing official development assistance budget.
Amber Rudd said, “To ensure a more secure and prosperous future for us all, the UK is playing its part by helping some of the most vulnerable communities become more resilient to climate change and by supporting the developing world to take the clean energy path to growth and prosperity rather than the high carbon route."
This announcement comes as the Prime Minister urged fellow leaders to work together to secure an ambitious global climate change deal in the Paris COP.
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