Severn Tidal Power Subsidy Below Offshore Wind, Close to Nuclear

The Severn Barrage project probably will require subsidies at about the same level as nuclear power stations and less than what’s offered for offshore wind plants, the developer of the British tidal energy project said.

“We expect that the price we will be able to negotiate will fall below offshore wind, and we hope close to or perhaps at the price nuclear power is currently negotiating,” Gregory Shenkman, chairman of Hafren Power Ltd., said at a hearing in the House of Commons in London today. That would make the project economically viable, he said.