CEO of a Glasgow-based tidal energy developer said that in order to keep UK competitive the Westminister government must keep an eye on the subsidy levels, reports Scotsman.
Nautricity has deployed a tidal energy device alongside the HQS WELLINGTON which is moored at Temple Steps in the heart of London.
Johnstone said that the rivals are monitoring coalition’s stance on subsidies.
The Government is currently reviewing the banding levels so that appropriate Renewables Obligation Certificates (ROCs) for the period 2013-2017 can be set. A consultation on the proposals, which include a reduction in the tariff for onshore wind to 0.9 ROCs/MWh and an increase for wave and tidal to 5 ROCs/MWh, is currently underway.
However, after 2017, the Government intends to keep supporting the marine technologies via the proposed FiT with CfD support mechanism currently being introduced under Electricity Market Reform, which should provide greater clarity and long-term vision for investors.
[mappress] Offshore Wind Staff , February 2, 2012