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CCS can be competitive by the 2020s

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The UK CCS Cost Reduction Task Force has released their report on cost reductions and development of CCS in the UK, and say that CCS can be competitive by the 2020s.

The CCS Cost Reduction Task Force's report and their interim report that was released in November 2012, conclude that "UK gas and coal power stations equipped with carbon capture, transport and storage have clear potential to be cost competitive with other forms of low-carbon power generation, delivering electricity at a levelised cost approaching £100/MWh by the early 2020s, and at a cost significantly below £100/MWh soon thereafter."

The UK government needs to implement new policies and funding to push down the costs in the industry if they want to achieve this goal, according to the task force. Other instruments to achieve this are, among others, to ensure a optimal transportation and storage network and give incentives for using CO2 for enhanced oil recovery (EOR).

"The main reason for the lack of CCS implementation in Europe and worldwide is the lack of long-term predictable instruments that make it economically feasible to realise CCS. The work of the CCS Cost Reduction Task Force is indeed very welcome in this context. We need concrete suggestions for a better financial framework making the business case for CCS more solid and attractive," says Camilla Svendsen Skriung, political adviser for CCS in ZERO.

Read the full report here.



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