UK: Uncertainty on TLSB subsidy could continue post Spring Budget
The decision regarding the subsidy for the Swansea Bay tidal lagoon scheme could reportedly be delayed to after the UK’s Spring Budget due next month.
The subsidy agreement necessary for the £1.3 billion Swansea Bay tidal lagoon scheme to move forward could be made after the UK’s Spring Budget due for March 8, 2017, according to Bloomerberg who is citing the unnamed UK energy officials close to the matter.
The proposed Swansea Bay tidal lagoon, and the wider tidal lagoon industry, has received backing from the government-commissioned review led by UK’s former energy minister Charles Hendry.
Furthermore, over 100 Members of Parliament have signed a letter to UK Secretary of State for Business, Energy and Industrial Strategy, Greg Clark, sent yesterday, February 14, 2017, urging the government to act swiftly on the recommendations made by Charles Hendry.
The 320MW Swansea Bay project plans comprise 16 hydro turbines and a six mile breakwater wall with the estimated annual power output of 400GWh.
Once constructed, Tidal Lagoon Swansea Bay (TLSB) project would generate enough electricity to power 155,000 homes for the next 120 years.