More power to the Northern Powerhouse Time Halved TRANSPORT CONNECTIVITY Distance Halved Emission Free ELECTRICITY 2 Million Homes More power to the Northern Powerhouse Jobs ECONOMIC GROWTH New Industry Protect ENVIRONMENT Improve

132, 30 MWh turbines across Morecambe Bay and the Duddon. Emission Free ELECTRICITY 2 Million Homes 132, 30 MWh turbines across Morecambe Bay and the Duddon. Generate enough electricity for 2 million homes. 7% of the North’s requirement. In excess of 8 million MWh p.a. annually on a totally predictable basis. At £70 a MWh, this would produce £560 million a year.

Dual carriageway roads on top of the gateways. Time Halved TRANSPORT CONNECTIVITY Distance Halved Dual carriageway roads on top of the gateways. Connections between the two gateways. South to the M6 and North to the A595. 9.3 million journeys per year have been calculated to use the routes across the gateways. Considerable monetary benefits from shorter distances and saved times.   The concept has now focused on a specific project to build tidal gateways across Morecambe Bay and the Duddon estuary, to put dual carriageway roads across them and to connect them to each other, to the M6 in Lancashire and to the A595 North of Millom in Cumbria.

Some 7500 jobs will be created in the construction phases. ECONOMIC GROWTH New Industry Some 7500 jobs will be created in the construction phases. 9000 jobs will be created on a permanent basis as a result of the expansion of existing industries. The creation of a new industry. The development of old service businesses such as tourism. The NTPG project has the potential to drive transformational change across the region and have a fundamental impact on the economic prospects of Cumbria and Lancashire addressing long standing connectivity challenges.

Lake District National Park Protect ENVIRONMENT Improve Workshops established with the below, to create a positive and desired improvement within the environment: Lake District National Park The Environmental Agency relating both to flooding and the shoreline management plan Natural England relating to protecting and improving the environment The RSPB plus the British Trust for Ornithology ..and any more. Design of the modern turbines enables efficient electricity production whilst effectively replicating the tide. Differences in high and low tide will therefore be minimal, thereby not impacting on birds which depend on the covering and uncovering of tidal mudflats and fishing industries. By controlling the tide, flooding arising either from tidal surges, or from the flooding of rivers, can be ameliorated.

Pre-development and Presenting the concept Some 5 years in gaining support for the idea starting 2 years before the Liverpool International Festival for Business 2014. Initially involved the creation of a model to demonstrate the concept. All costs to date have been met by North West Energy Squared (NWE2) which, amongst others, includes the North West Business Leadership Group.

Development Phase Review of project risks and development of the PIM– costs to date circa £600k – all costs met by NWE2. Obtaining the Development Consent Order (DCO) is anticipated to take up to 5 years from January 2018. The funding for this stage will come from a combination of public and private sources. The public sector will include Northern Powerhouse, Transport for the North, LEPs, and Local Authorities. NTPG will seek contributions of £5 million over 3 years. There will be substantial public benefit from employment, improved connectivity, economic growth, flood control and protection and improvement of the environment, which will have a total monetary value in excess £1 billion a year.  A further £10 million will be raised from private investors, the main attraction of these shares, in addition to an eventual dividend, will be the capacity for them to acquire disproportionate value in the delivery company Northern Tidal Power Gateways Ltd (NTPG Ltd). They could own 10% of NTPG. On full power production the company could be generating net revenue of £500M a year. 

Financial close and Construction Phase Total cost for the development and construction of the gateway is estimated to be in the order of £10 billion spread over the 9 years. The aim is for construction to start in 2024 with an expected completion date of 2031. There will be partial completion at around 2027 with the Duddon Estuary expected to be producing power and therefore an income for the operating company. The breakwaters will be completed perhaps as early as 2027. This will enable the a single carriage way transport link across the bay to be commissioned to start bringing the benefits to the region as early as possible In addition to the generalised public benefits outlined earlier, it is important to realise that there will be early benefits to the treasury with, for example, reduced welfare payments and additional tax income that could be well over £500 million a year. (Negotiations will be held with the Government to assess the mechanism for recognising this direct financial benefit.)

More power to the Northern Powerhouse