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UK considers Tidal Power Contract, with assistance from Welsh government

U.K. Weighs Tidal Power Contract Aping Hinkley Nuclear Deal, Bloomberg ,By  Alex Morales, 
  • Swansea Bay plan could open up 40 billion pounds of spending
  • U.K. and Welsh ministers seek to forge deal to enable project

U.K. officials are in intensive talks with their Welsh counterparts to kick-start a tidal power plan by copying the controversial contract awarded to Electricite de France SA for its Hinkley Point nuclear power project.

 Tidal Lagoon Power Ltd.’s Swansea Bay project would tap the ebb and flow of the tides to generate electricity. It’s been in limbo for 15 months since a government-commissioned review recommended giving it the go-ahead. The delay reflects a reluctance by ministers to accept costs for consumers that were once estimated at double the power price EDF will get.

Amid pressure from more than 100 backbench lawmakers who want the tidal plant to move ahead, ministers are grappling with how to make it palatable. The developer had proposed an initial power price a third higher than Hinkley’s. But an offer of assistance from the Welsh government has changed the game. Officials are now debating a deal on the same terms as Hinkley, according to Richard Graham, a lawmaker with the ruling Conservatives who chairs Parliament’s All-Party Parliamentary Group on Marine Energy. ……..https://www.bloomberg.com/news/articles/2018-03-27/u-k-weighs-tidal-power-contract-matching-hinkley-nuclear-deal

March 27, 2018 - Posted by | renewable, UK

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