article_snippet: George Osborne is set to use George Osborne Budget today to announce that Government is beginning formal talks on funding the project to produce energy from turbines in Swansea Bay, south Wales.
article_snippet: Artist's impression: Chancellor George Osborne is set to use Artist's impression: 
article_snippet: Chancellor George Osborne Budget today to announce a £1billion plan for the world's first tidal lagoon to generate electricity from turbines in Swansea Bay, south Wales .
article_snippet: south Wales will get the opportunity to discuss subsidies - which are expected to have to be about £150 per megawatt hour, reported The Guardian.
article_snippet: Controversially, this is far greater than the subsidy of up to £92.50 per MWh agreed for the planned Somerset nuclear plant Hinkley Point C - and triple the wholesale electricity prices of £50 per MWh.
article_snippet: Mr Osborne (file picture) is expected to reveal that the Government is beginning formal talks on funding the project to produce energy from turbines in Swansea Bay .
article_snippet: Other project: The Tidal Lagoon Power will get the opportunity to discuss subsidies - which are expected to have to be about £150 per megawatt hour.
article_snippet: Controversially, this is far greater than the £98 per MWh subsidy agreed for the planned Somerset nuclear plant Hinkley Point C (above, artist's impression) a six-mile sea wall would create a lagoon in the Severn Estuary with turbines that could harness the incoming and outgoing tides to generate power 14 hours a day.
article_snippet: When plans were first submitted last year, plans was claimed that the ground-breaking project could provide renewable power for 120,000 homes in Swansea for 120 years.
highlights_snippet: Government to begin formal talks on funding Swansea Bay energy project .
  