New carbon capture and storage report is ‘on the money’

Commenting on the report’s findings, Claire Jakobsson, Head of Energy and Climate Policy at EEF, said: “This report is on the money and it is imperative that the Government takes its findings and recommendations seriously. Once again we have a report indicating that CCS technology offers the most cost-effective decarbonisation route for the UK, that CCS fitted power plants could easily be cost competitive with established forms of low carbon power and, crucially, that there are no technological barriers to rapid deployment.”

Jakobsson carried on with: “Most importantly, from an industrial perspective, the report confirms what many in industry have been saying for years; CCS provides the only route to decarbonisation for many industrial processes. To put it simply, no CCS means no decarbonisation and rising carbon costs. The report’s recognition of the significant financial barriers to CCS deployment at steel, cement and chemical plants, and the proposed policy solutions, are enormously welcome.”

Finally Jakobsson added: “Uncertainty about the future direction of energy and decarbonisation policy is rife. The Government needs to end this and spell out its proposed strategy in fairly short order. This report must now help shape Government thinking and we hope to see the impact of its recommendations on future policy formation.”