No justification for delay on CCS, panel concludes
The government’s failure to put in place effective policy on carbon capture and storage (CCS) will result in heavy costs for current and future UK consumers, an expert panel has concluded.
Former energy and climate secretary Amber Rudd commissioned the joint industry and parliamentary inquiry after the government’s decision last November to axe funding for its CCS competition.
The study revealed that the high costs experienced by earlier approaches in the UK to develop CCS reflected the design of the competitions rather than the cost of CCS itself. It concluded that CCS has the potential to safely store 15% of current UK CO2 emissions by 2030 and up to 40% by 2050.
The panel recommended that a dedicated delivery company be established to ensure that CCS is delivered at least cost. This should be initially government-owned but could eventually be privatised.
Industrial emitters should be given incentives funded by the ...