The falling cost of wind power is “good news” for the proposed Swansea Bay Tidal Lagoon, according to the chair of a parliamentary group on marine energy. Critics of the £1.3bn project argue it is too expensive and have urged ministers to focus on more established technologies like wind and solar. The price to be paid for power from the scheme is the key sticking point. Last year the price offered by the UK Government for power from new offshore wind developments hit an all time low. Richard Graham MP said it proved that government support for innovative schemes could “bring the costs down dramatically over time”. He claimed it set a “strong precedent” that could be replicated by tidal lagoons if ministers decide to plough ahead with the Swansea Bay scheme. “The reward for the UK, after years of subsidies for offshore wind at more than double today’s prices, it to have created both a viable source of energy and a new industry in which we’re now a world leader,” Mr Graham wrote in a blog. “If we take the same approach to tidal lagoons we can help create another new industry, bringing costs down for consumers in due course and generating a wider economic benefit as well.” Energy Minister Claire Perry told the Environmental Audit Committee of MPs that “a series of extremely important conversations” were happening between the UK and Welsh Governments at the moment about the future of the Swansea Bay scheme.
BBC 22nd Feb 2018 read more »