In October 2010, the Government published the findings of a feasibility study into Severn tidal power. It looked at five different schemes, including three barrages and two lagoons. One of the schemes investigated was the Cardiff-Weston barrage – this was the largest scheme to be considered. The study concluded that despite its high capital costs (approximately £34 billion), this scheme offered the best value for money. The Government concluded that there was not a strategic case for public investment in tidal energy schemes at that time, but did not preclude a privately financed scheme coming forward.
Recent reports suggest that private financing for this scheme may now be available but only if support is available via the proposed Contracts for Difference mechanism.