Amber Rudd has made her first big decision as Secretary of State for Energy and Climate Change, granting planning consent to build the world’s first tidal lagoon in Swansea that “could” generate around 500GWh per year.

Constructing the lagoon will entail building a six mile sea wall, complete with 16 underwater turbines around Swansea Bay.

The project will cost around £1 billion and the developers are asking for £168 tax payer subsidy for every MWh they produce. The current market price is around £41 MWh…