Study from the TUC union and CCSA says technology would bring big economic benefits and drive down household electricity bills by £82 a year
Stephen Catchpole
An ambitious roll-out of carbon capture and storage (CCS) technology would create a market worth up to £35bn by 2030 and create thousands of jobs, a new report has revealed.
The study from the TUC union and the Carbon Capture and Storage Association (CCSA) - The Economic Benefits of CCS in the UK - says the technology would bring big economic benefits and drive down household electricity bills by £82 a year.
Teesside could be home to the UK’s first industrial CCS scheme, following a £1m Government pledge for research into the technology - announced last year as part of the area’s successful City Deal bid by Tees Valley Unlimited (TVU), the area’s local enterprise partnership, and local authorities.
The new report says CCS can play a “vital role” in helping the UK meet its statutory target to reduce greenhouse gas emissions by 80% by 2050.
It has been estimated that without CCS, the cost of meeting this target will rise by £30-40bn per year.
TUC general secretary Frances O’Grady said: “The UK is committed to reducing its carbon emissions in the coming decades. Carbon capture storage technology offers a way to meet our environmental targets, while creating thousands of skilled, well-paid jobs and transforming regional economies.
“New CCS plants would create thousands of new jobs and safeguard many more in energy intensive industries such as steel, chemicals and cement. This is a great opportunity to re-invigorate our manufacturing sector and bring new R&D, design and construction jobs to areas like Yorkshire, the North-east and Scotland.
“Our depleted North Sea gas and oilfields make the UK one of the best areas in the world to exploit CCS technology. But without stronger Government backing the UK risks losing its competitive advantage and all the jobs and economic activity that CCS could bring.”
On Teesside Government funding will be used to fund an initial study, or pre-FEED [Front End Engineering and Design] into a pipeline.
It’s the first Government-supported industrial CCS scheme in the UK - and it’s hoped that Teesside can create a blueprint for other areas.
Stephen Catchpole, managing director at Tees Valley Unlimited, said: “Carbon capture and storage is particularly suited to Tees Valley given our industrial infrastructure, proximity to the shoreline and existing pipe corridors and a number of companies which already capture their carbon coupled with our ambition to reduce CO2 emissions.
“Our Tees Valley City Deal demonstrates a commitment from Government which will enable us to fund a detailed business case for a local CCS project and we met with industry partners and stakeholders just last week to help identify the timelines for taking this business case forward.
“An industrial CCS model for Tees Valley will further promote Teesside’s attractiveness in a globally competitive market supporting companies already here and bringing in further international investment and job opportunities.”
The TUC/CCSA report also said each new-build CCS power plant would generate between 1,000 and 2,500 jobs in construction, with a further 200-300 jobs in operation, maintenance and the associated supply chain.
The total economic benefits of CCS could reach £2-£4bn per year by 2030.
Chief executive of the CCSA, Dr Luke Warren, said: “This report definitively shows that the successful deployment of CCS has wider benefits for the UK economy.
“Respected international and UK organisations agree that without CCS in the mix, costs of meeting climate change targets will rise significantly.”
He added: “The UK is one of the best places in the world to develop CCS – we have abundant storage capacity in the North Sea, a world-class oil and gas industry with the right skills for CCS, and existing infrastructure that can be re-used.
“Now is the time for the UK to seize this opportunity, realise the significant benefits of CCS and become one of the global leaders in this vital technology.”
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