Tidal has potential to make a splash in energy mix, says KPMG

Tidal has potential to make a splash in energy mix

The Budget announcement shows that tidal power is firmly in the low carbon technology race.

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In response to the announcement by the Chancellor of opening of negotiations on Swansea Bay tidal lagoon, Darryl Murphy, Corporate Finance Partner at KPMG says:

“Tidal power is one of our great natural resources which has yet to be really harnessed and offers long term predictable low carbon energy. The Budget announcement shows that tidal power is firmly in the low carbon technology race. It is important to note that this is not a single one off project but a plan to develop a series of  such schemes which has the potential to significantly reduce the Strike Price required to support the technology. Therefore, the challenge is, can Government accurately assess the long term value of future tidal power schemes above and beyond the Swansea project.”

-ENDS-

 

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About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff.  The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.  Each KPMG firm is a legally distinct and separate entity and describes itself as such.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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