UK Government needs to give clear guidance on level of energy subsidy

Commenting on reports that the UK Government are set to reject the Swansea Bay Tidal Lagoon, Harri Lloyd-Davies, President of the South Wales Chamber of Commerce said:

“If this news is true it is a bitter pill for Swansea and businesses in South Wales. Hopes were high that the project would be given the green light following the endorsement of an independent review over a year ago. Building a tidal lagoon in Swansea would bring construction and on-going maintenance jobs, supply chain opportunities and, most importantly, put Swansea at the centre of what is a developing industry.

“Considering the positive findings of the independent review, the UK government need to give a clear reasoning for their decision not to support the tidal lagoon and set out how much subsidy they are willing to pay for similar projects to come forward in the future.

“We understand that the government has to ensure value for money but being clear about acceptable subsidy levels will give renewable energy developers a target to work to. Failure to do this will give the impression that this decision is just an excuse to not support a major project because it’s not in London or the South East.

“The UK government talks about supporting economic growth across the nations and regions but when it comes down to it Swansea has seen rail electrification being cancelled and now the tidal lagoon being shelved.

“We want to see major projects taking place right across the UK as a way of stimulating growth but due to their size and scale these need to be supported by the Westminster government”.

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