So you want to increase our dependence on Russian gas? remember when they cut the supply to Europe over an argument with Ukraine? Germany was getting very nervous, though unlike us, Germany has the sensible approach of higher targets for energy efficiency and renewables.
The Germans threw away any possibility of ever becoming independent of massive gas imports from the east when they decreed that nuclear was evil and we must all worship the wind farms and photovoltaics.
The only people in Europe with a chance are the French, and even they are beginning to move in the wrong direction.
That's all we'll do with another dash for gas, we're no longer net exporters, as the north sea is dwindling.
I suspect also the current enthusiasm for fracking will dwindle once people start getting polluted drinking water like in the US.
Indeed, but a massive crash programme of fast fission reactors (like that inconvenient truth for the anti-nuclear movement, the BN-600 that has been operating commercially for years and cost no more to build than an equivalent soviet PWR). would allow us to divert our relatively small but significant production of natural gas and coal to liquid fuel production, probably amount to at least 500,000bbl/day in 2030.
As for the Severn Barrage, it is almost certainly not viable for grid electricity production, but systems like hydrogen production and the proposed solid-state ammonia synthesis would allow it to produce vast quantities of fertiliser and hydrogen which could be used for the aforementioned coal hydrogenation and also for production of industrial chemicals like methanol.
As to the environmental damage caused by fracking, technologies such as the liquid propane fracking will almost eliminate this issue, as will the fact that the majority of British Shale Gas reserves appear to be off shore where there is no drinking water to contaminate.
And last year's profits in the water industry (some £2.2bn apparently) would cover the capital costs of renationalisation using current government financing rates and would allow the
entire domestic water supply to be desalinated with
no increase in prices.
In short:
The severn barrage is not viable for grid energy production without huge subsidy, but it may be viable for the production of hydrogen or similar as this is not constrained by the same availability requirements, but off peak nuclear probably wins anyway.