A £30 billion wave power scheme along the Severn estuary in Wales is set to be axed by the government.

The wave power project was set to be the biggest in the world, and the loss will be a big blow to the Welsh economy.

The Severn barrage was to span the Severn estuary between Wales and Somerset, however it is thought the government are axing the £30 billion plan due to it not being financially viable.

It seems the government have deemed the scheme not worthy of public funding, with no guarantee that they will see a return on their investment in the form of energy.

Just how beneficial the plan to utilise the 10 mile long tidal barrage has split opinions. Some, including the Department of Energy and Climate Change (DECC) were hopeful it could be a significant power generator, generating double or even triple that of a nuclear power station.

However there have been ongoing environmental concerns over the impact that the barrage could have on the natural wildlife in the Severn estuary.

Amazingly, the idea of a barrage across the Severn estuary is one first thought up in the 1930s.

The department will make its decision on whether to axe the plan tomorrow morning (Tues 19th Oct).

Subscribe to our RSS Feed to get the latest UK energy news updates.