Tidal Lagoon Power’s chief executive, Mark Shorrock, said: “Our offer to the UK Government is to contract Swansea Bay Tidal Lagoon for a lower subsidy per megawatt hour than Hinkley Point C [new nuclear power station].
” While we await the Government’s response to this offer and to the independent Hendry Review of tidal lagoons, we have continued our development work on the subsequent programme.
“However, we have secured the grid connection for a tidal power station equal in installed capacity to Hinkley Point C. Looking at the pounds per megawatt hour unit cost of new build power stations, nuclear is currently priced in the nineties, the latest offshore wind projects are expected to drop into the seventies and our models show Cardiff Tidal Lagoon beating them all in the sixties.
“What’s more, by leveraging the commanding position taken by UK industry preparing for Swansea Bay Tidal Lagoon, the supply chain contracts awarded for Cardiff Tidal Lagoon will be worth more than £6bn to UK companies.”
National Grid’s director of UK system operator, Phil Sheppard, said: “Tidal power presents a reliable and predictable source of renewable generation that has the potential for highly flexible operation in the future.
Note; this one project can generate enough power to provide all of the energy needs for ALL of Wales.