The twin-reactor plant would be built close to the site of the former Wylfa nuclear power station

The government is about to invest taxpayers’ money in a multibillion-pound project to build a nuclear power station in north Wales.

Ministers are preparing to announce a deal with Hitachi, a Japanese developer, next week to help to fund the construction of the Wylfa Newydd plant on Anglesey, which could cost more than £15 billion. Unlike the £20 billion Hinkley Point nuclear plant, which was funded through private money, it is understood that Wylfa will have direct investment from British taxpayers.

The deal will reduce the amount consumers have to pay on their energy bills when Wylfa is up and running. However, it could expose the government to a greater risk from cost overruns as it will own a direct stake.

The proposed twin-reactor power