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Communities around eight potential new nuclear sites in the UK are set to be given benefits the government has revealed today.
Benefits of up to £1,000/MW for a period of up to 40 years could be provided to the local communities hosting the new nuclear plant, once it becomes operational.
It could be worth up to £128m to the area around the proposed Hinkley Point C nuclear power station in Somerset.
Local authorities hosting new nuclear power stations will benefit for up to the first 10 years of operation from a share of the significant increase in business rates revenues that will arise.
To account for the scale and lifespan of nuclear power stations, local communities will receive further funding from central government for an additional 30 years.
Business and energy minister Michael Fallon said: “It is absolutely essential that we recognise the contributions of those communities that host major new energy projects.
“This package is in the interests of local people, who will manage it to ensure long-term meaningful benefit to the community.
“It’s proportionate to the scale and lifespan of new nuclear power stations and it builds on the major economic benefits they will bring in terms of jobs, investment and use of local services.”
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