The UK has made huge progress in clean power. But energy security is not just about building renewables, it is also about reducing our exposure to imported fuels and volatile global prices.
In 2024, the UK’s net import dependency stood at 43.8%, meaning we still rely heavily on energy brought in from overseas. When global markets are shaken, UK households and businesses feel the impact quickly. And while energy bills have fallen from the worst of the 2022–23 crisis, they remain well above pre-crisis levels.
At the same time, gas continues to play a significant role in our power system. Even in a record year for renewables, gas generation remains substantial. which means price shocks can still feed directly through to the wider economy.
That is why predictable, home-grown tidal stream energy matters.
What tidal stream brings that other renewables cannot
Tidal stream is different because it is entirely predictable. Output can be forecast years in advance.
That predictability makes tidal stream a powerful partner to wind and solar, helping the grid plan supply more effectively and reducing the need for expensive last-minute balancing.
Independent studies suggest tidal stream could eventually supply around 11% of the UK’s electricity demand, delivering reliable power every day, all year round.
Morlais: a national energy security asset
It has been a real privilege to work at Morlais in North Wales, alongside Menter Môn / Morlais and fellow developers. Morlais is not just another project, it represents a strategic opportunity for the UK to build a new exportable industry from our natural advantages.
The UK Government has recognised the value of tidal stream through long-term revenue contracts under the Contracts for Difference scheme. Total contracted tidal stream capacity now stands at 140MW, and Parliament has recognised that the UK hosts around half of the world’s operational tidal stream deployment.
However, revenue contracts alone do not build projects.
The problem: the “first arrays” finance gap
For the first commercial arrays, the challenge is not ambition, it is practical delivery finance.
Early tidal arrays still carry “first-of-a-kind” delivery and technology novelty risk. Private lenders can therefore remain cautious, even when long-term revenue contracts are already in place.
Without a sensible public cornerstone role, projects can stall and with them:
- Local supply chain development
- Community benefit expectations
- Skilled coastal jobs
- The UK’s opportunity to lead a predictable clean energy sector
A simple, sensible solution
What the sector needs is not endless grant funding or complex new structures.
Instead, we need straightforward access to construction loans, supported by a limited risk-sharing or cornerstone layer that unlocks much larger volumes of private finance. Alongside this, targeted support can help UK yards and manufacturers scale up to meet demand.
This is precisely where Great British Energy and the National Wealth Fund could make a decisive difference, not by replacing private capital, but by crowding it in and converting contracted projects into steel in the water.
If we want secure, predictable, home-grown energy and long-term jobs in Wales and across the UK tidal stream should be treated as a strategic energy security investment, not a “nice to have”.
Sources
- UK net import dependency 43.8% in 2024 – UK Government DUKES statistics
- UK energy bills still around 44% higher than Winter 2021/22 – UK Parliament Library
- UK electricity mix and gas share – Carbon Brief analysis
- Tidal stream potential ~11% of UK electricity demand – ORE Catapult research
- Total contracted tidal stream capacity 140MW and UK global leadership – UK Parliament statement
- Grid constraint costs reached £1.4bn in 2023 -Parliamentary answer / NESO analysis
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