Swansea Tidal’s cost claims crumble under questioning

There are further concerns over the costs of the £1.3bn tidal lagoon planned for Swansea after Tidal Lagoon Power, the developer, admitted that they remain well above the price of other energy technologies after telling MPs that they would need a deal offering £89.50 for every mega-watt of electricity produced to build the groundbreaking 320MW project. Under questioning they admitted that this could only be achieved with extra financial help from the Welsh Government,and a contract almost double the length than what is typically offered to developers of new nuclear or renewable energy projects. On a like-for-like basis the project would need a contract price of £150/MWh. The sum is well above the price of the Hinkley Point C nuclear power project which will cost bill payers £92.50 for every megawatt produced over 35 years.