Hinkley Point nuclear plant: 10 things to know Consumer bills could be £77 lower when the full nuclear programme is completed by 2030, according to Ed Davey, the Energy Secretary. But leaders of rival energy firms have warned the deal could mean households could face higher energy bills to subsidise the project. The project is expected to cost about £16 billion - which has increased from the original £14 billion cited by the developers. The new figure includes £2 billion of pre-construction costs. EDF's Chinese partners will have to meet the cost of any delays or overruns, and if the project comes in below budget they will share any savings with the taxpayer. They have also agreed to spend 57 per cent of the Hinkley investment with UK firms. The jobs include 5,600 construction opportunities plus thousands of supply chain jobs - worth £100 million a year to the local economy during the peak construction phase. Also £128 million will be made available for community projects over 40 years once the plant is operational. It is a key part of the coalition's drive to shift the UK away from fossil fuels towards low-carbon power. Ed Davey said nearly two-thirds of electricity generating capacity is going off line over the next 15 years and Hinkley Point is a start in government plans to replace eight out of nine UK nuclear power stations, and almost all the coal power stations. Hinkley Point will be the first new nuclear power station to be built since Sizewell B in Suffolk, which started generating electricity in 1995. There are still unanswered questions about the deal, as details in the proposal show the £92.50 price can be adjusted upwards "in relation to operational and certain other costs." This could mean unforeseen price rises for consumers.