Sea 'snake' generates electricity with every wave - tech - 07 May 2009 - New Scientist

Now this does seem to be a technology worth watching, not least because it seems simple and has that 'why didn't someone think of that before?' factor. It also looks like a good bet for maintenance costs:

Other than the turbine, Anaconda has no moving parts and unlike other wave power devices it needs only one tether to the ocean floor. That lowers construction costs and reduces the need for maintenance – an expensive undertaking in offshore settings where corrosion and accessibility are problems, ... Des Crampton, CEO of Checkmate Seaenergy, the firm commercialising the flexible wave harvester, says a full-size Anaconda 200 metres long could generate enough energy to power 1000 average homes. "Anaconda captures more energy than all existing wave energy devices,"

Sea 'snake' generates electricity with every wave - tech - 07 May 2009 - New Scientist