The BEIS Committee and the Welsh Affairs Committee held the first of two planned joint evidence sessions to scrutinise the Swansea Bay Tidal Lagoon project decision making process on Wednesday 9 May. Chief Executive of developer Tidal Lagoon Power (TLP), Mark Shorrock conceded that if the project had a 35-year contract like Hinkley Point C it could cost around £150/MWh without extra government support. Shorrock said TLP is seeking a 60-year Contract for Difference at £92.50/MWh – the same strike price as Hinkley – but didn’t disclose the level of investment expected from the Welsh government. No respondents gave any indication of an expected timeframe for any final decisions. In the session it was also highlighted how a major factor in costs falling for offshore wind had been competition, however review author Charles Hendry said it was too late to “start again” by setting up a tidal lagoon auction.
