The £1bn scheme, which will involve a six-mile sea wall with turbines to harness the power of the tide, has been enthusiastically backed by ministers including Ed Davey, the energy secretary.
Despite the criticism George Osborne is expected to announce in the Budget that the Government will enter formal negotiations over a subsidy contract for the project.
Artist's impression of the proposed tidal lagoon in Swansea Bay
Tidal Lagoon Swansea Bay, the company behind the scheme, is thought to be seeking a guaranteed subsidised price of about £168 for every megawatt-hour (MWh) of electricity it generates over a 35-year period – almost four times the current market price of power.
It wants to follow up the project with five other much larger lagoons around the UK coast, which it argues would be cheaper. The fleet of six lagoons could together generate 8 per cent of the UK’s needs for 120 years, it claims.
The company is still awaiting planning permission on the Swansea Bay development, a decision on which is due to be made by the energy secretary by early June.
As well as concerns over costs, the developer faces opposition from residents in Cornwall where it wants to reopen a disused quarry to provide rocks for the sea walls.
The project developers want to reopen a disused quarry in Cornwall to provide rocks for the seawall
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