The sale of the UK Atomic Energy Authority (UKAEA) will increase efficiency, competition and value for money for British taxpayers, it has been claimed.
According to the secretary of state for business Lord Peter Mandelson, the sale of the UKAEA will be complete before the government's summer recess.
Meanwhile, the chairman of the UKAEA Lady Barbara Judge said: "We believe that the UK and international nuclear decommissioning markets represent an exciting opportunity for UKAEA to build a larger and more broadly based nuclear services company."
She added that the sale will ensure the energy agency puts a greater focus on the commercial viability of its operations and will allow it to better deliver its strategic plans.
A site for a new nuclear power plant has been nominated by RWE npower.
The firm has proposed a 300-acres of farmland near Millom as its preferred location and further details will be made available to the public on April 15th.
Click here to run an energy price comparison, and see if you could be paying less for your gas and electricity.