Plan for UK nuclear financing model moves upfront cost to energy bills

Legislation paves way for firms building nuclear plants to charge households long before completion

The government plans to resuscitate the UK's nuclear energy ambitions by creating a financing model that could pile part of the upfront cost of the 20bn Sizewell C power plant on to householders' energy bills before it starts generating electricity.

The energy secretary, Kwasi Kwarteng, set out legislation on Tuesday that would share the early construction costs with consumers, with the aim of reducing the UK's reliance on overseas funding for nuclear projects by making them more attractive to domestic investors.