Written by John Bayliss
Senior Account Executive
As widely anticipated after media reports yesterday, Charles Hendry’s independent report into the cost effectiveness of tidal lagoon energy has wholly endorsed the fledgling technology as a valid method of generating renewable energy.
'The Cost of A Pint of Milk’
Speaking ahead of the report’s publication on BBC Breakfast on Thursday morning, Mr Hendry said “if you look at the cost spread out over the entire lifetime - 120 years for the project - it comes out at about 30p per household for the next 30 years. That's less than a pint of milk.”
With many of the concerns about tidal lagoon power having centred around cost, Mr Hendry’s comments will come as a huge relief to supporters of the project and will hopefully allay any concerns in Westminster.
Local Welsh civic leaders took to social media to communicate their support of the industry following the report’s release.
Councillor Anthony Taylor, Neath Port Talbot Council’s Cabinet Member for Economic Development & Property Services, tweeted the “challenge now is to get skills & manufacturing capacity in place to capture max'm benefit locally from this industry”.
Welsh Assembly Member Huw Irranca-Davies tweeted his support of the review’s content, adding his desire to see action from UK government moving to agree the Swansea Lagoon’s future. He said: “Now, UK Govt, get on with the @TidalLagoon please. We're all waiting!”
Former UK Government Energy Minister and Liberal Democrat MP, Edward Davey, tweeted his congratulations to Tidal Lagoon Power Ltd Executive Mark Shorrock, adding “without Mark's vision & determination UK would not have this fab green power option”
UK Government Response
Such clear support from Mr Hendry’s report will now place considerable pressure on UK Government officials to support the prototype proposals in Swansea as negotiations around the level of public subsidy, otherwise known as the ‘strike price’, continue.
Conservative Ministers are yet to formally respond to the report and its findings, however officials at the Department for Business, Energy & Industrial Strategy have now had Hendry’s report for over a month and will have no doubt examined the substantial evidence taken in great detail.
To view the published report, please click here.
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