CARBON CAPTURE MAY COST A BILLION

A billion here, a billion there, and pretty soon you're talking Iraq War sized money.

The more NewEnergyNews hears about carbon capture, the more it looks like one of those elusive dream technologies. Nobody has proved it is safe and, if it is, it looks like it might make burning coal too expensive. Which is good for solar and wind energies if everybody is willing to pay what burning carbon really costs.

Energy firms seek 1 billion pounds for carbon capture projects
Terry Macalister, July 8, 2007 UK Guardian)

WHO
New Prime Minister Gordon Brown, UK oil and electricity providers Eon, RWE and British Gas parent Centrica
But is it safe? And how much will it add to the cost of coal-fired electricity?

WHAT
Brown wants the UK to take a lead role in developing carbon capture and sequestration technology to reduce greenhouse gas (GHG) emissions but development may cost his government up to a billion pounds.

WHEN
The need for coal fired plants may ease in the UK after 2015 if planned nuclear plants come on line.

WHERE
The 2007 British Energy White Paper is here.

WHY
- Like all developed and developing economies, the UK is pondering the dilemma of how to balance its growing hunger for energy with the need to cut GHG emissions. With or without the hypothetical development of nuclear or wind resources, the providers seek to develop CCS.
- BP recently abandoned a North Sea CCS project because of its cost.
- Eon, RWE and Centrica all have plans for CCS projects but each may require more than 300 million pounds of government subsidy to prove.
Even before he was Prime Minister, Brown (left) supported the Stern Report urging the world to get busy fighting climate change.

QUOTES
From the British Energy White Paper: "With a third of our current electricity generation capacity due to close in the next 20 years there is also a pressing need for investment in new low carbon sources. We will work to ensure there is a market price for carbon into the long term by strengthening the EU Emissions Trading Scheme. We will triple the amount of electricity we get from renewables by 2015. We want to lead in the development of carbon capture and storage. And we will consult on the significant role that new nuclear power stations could play in cutting emissions and diversifying our supply.