The Government has launched a new consultation seeking views on a new contract negotiation process for the Swansea Bay Tidal Lagoon project using Contracts for Difference.
Contracts for Difference (CFD) are part of the Government’s radical reforms to the energy market. They provide developers with more price certainty for the electricity generated by the plant, stimulating significant investment in renewable energy projects.
The Government is currently exploring the potential for a future lagoon programme – the proposal was included in the National Infrastructure Plan published in December 2014. As part of this, the Government is starting closer discussions with Tidal Lagoon Power Ltd to establish whether a potential tidal lagoon project at Swansea Bay would be affordable and provide value for money for energy consumers.
The proposed six-mile horseshoe shaped sea wall scheme, which would generate around 0.5 TWh per year, enough to power almost 120,000 homes, is currently being considered by the Planning Inspectorate.
Announcing the consultation, Energy and Climate Change Secretary Ed Davey said:
“Britain has some of the best tidal resources in the world – tidal lagoons could provide 8% of our electricity needs, replacing foreign fossil fuels with clean, reliable home-grown electricity. That’s why it’s important we consider what might provide the best value for money for bill payers.”
“The Russia-Ukraine crisis showed us the importance of having our own supplies of energy, whilst scientists have made it clear that we need to curb our emissions and move to a low-carbon economy as quickly as possible.”
Secretary of State for Wales Stephen Crabb said that with its highly skilled workforce and tidal range, Wales is ideally placed to be a world leader in the next generation of low-carbon technology, commenting:
“It will also send a clear signal that Wales is at the forefront of tidal technology and be a major boost for other potential tidal projects in Wales.”
The consultation is part of the Government’s drive for transparency and engagement with stakeholders in developing new arrangements for applying for a bespoke CFD.
The Planning Inspectorate is currently considering TLP’s application under the Planning Act 2008 for development consent, and will provide its report and recommendations to the Secretary of State. The Minister responsible for making the planning decision will then have up to three months to reach a final decision on the application. The process for development consent is separate from that for a CFD.
Responses should be emailed to This e-mail address is being protected from spambots. You need JavaScript enabled to view it by 20 February 2015.
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