The new Sizewell C nuclear power station could receive funding through a new Government scheme that enables companies to charge consumers to cover construction costs.

Business and Energy Secretary Kwasi Kwarteng has announced that the £20billion twin reactor will be considered to receive finance through the Regulated Assets Base (RAB) model.

Under the initiative, developers can charge a small amount on electricity bills to cover building costs, with the aim to eventually lower bills for customers once the power station is up and running.

Infrastructure is the largest financial burden in schemes of this nature, but the RAB model aims to eliminate the need to use loans which build up interest that would have to be passed on to the consumer once the station starts operating.

The Government estimates the RAB scheme could save consumers more than £30bn over the project’s lifetime.

However, Alison Downes, of campaign group Stop Sizewell C, which is opposed to the plans, said: "It's outrageous that ministers are hiding the cost to electricity bill payers and the public purse of Sizewell C, while claiming to be transparent.

“By redacting the finances, it is impossible to know if the secretary of state's judgement on value for money is sound.

“We fail to understand why the government would not impose conditions related to the European Pressurised Water Reactor (EPR) technology, when it has such a catastrophic track record and one of the only working examples has been offline for almost a year in China."

Julia Pyke, director of Sizewell C financing and economic regulation, said: “We’re really pleased at the progress the Government is making towards a decision on Sizewell C and its preliminary assessment that the project represents value for money and would strengthen Britain’s energy security.

“We look forward to the outcome of the consultation on the draft reasons for designation and will continue to work hard to develop the project so that it delivers the maximum possible benefits for communities in East Suffolk and for the UK as a whole.”

A decision on whether to give the go-ahead for the power station is due to be made by July 8.