U.K. Approves Nuclear Power Plant, Guarantees A High Minimum Price

The U.K. has approved construction of a nuclear power plant for the first time in almost twenty years, and it has made a guarantee to buy electricity from the plant at double the current going rate, the BBC reports. The new plant will be an expansion of existing facilities at Hinkley Point in Somerset.

The U.K. government has agreed to set a minimum price of £92.50 per megawatt hour

The project, which is being led by French energy company EDF Energy and includes China National Nuclear Corporation and China General Nuclear...