New UK nuclear plants could be paid for upfront by consumers

Government plans to attract investors by making taxpayer help pay for cost overruns

The government has confirmed plans for consumers to begin paying for new nuclear reactors before they are built, and for taxpayers to pay a share of any cost overruns or construction delays.

In a consultation document launched on Monday night, officials said the model is "essential" to attract private investors to back the UK's new nuclear ambitions at a price that is affordable for bill payers. The public purse would also compensate nuclear investors if the project was scrapped.