The government has revealed today that communities around eight potential nuclear sites in the UK are set to receive benefits.
Up to £1,000/MW in benefits for up to 40 years could be provided to the local communities around the new plants, once operational.
The area around the proposed Hinkley Point C power station in Somerset, could benefit from up to £128m.
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.”