Tidal Energy Investment Cancelled

Per the BBC, the UK government has cancelled a £30 billion investment in the Severn “barrage” tidel energy project. The plan was to build at dam across the mount the the Severn River to capture energy from the tidal flows. This story is getting a lot of attention in the UK as a sign of yet more government cost cutting. On the other hand isn’t £30 billion a lot for the government to spend on a single energy project? I wonder what the cost per GWh is and how this compares to alternatives.
Severn Barrage

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