Carbon Capture and Storage: Lessons from the Competition for the First UK Demonstration: Department of Energy and Climate Change
HC 1829, Report by the Comptroller and Auditor General, Session 2010-12
- National Audit Office (NAO)
- TSO (The Stationery Office)
'Carbon Capture and Storage: Lessons from the Competition for the First UK Demonstration: Department of Energy and Climate Change (HC 1829)' discusses the competition to design, construct and operate the UK's first commercial-scale carbon capture and storage project.
The competition was launched in 2007 by the then Department for Business, Enterprise and Regulatory Reform. It was cancelled four years later (in October 2011) by the Department of Energy and Climate Change (DECC) on the grounds that it could not be funded within the £1 billion budget agreed at the 2010 Spending Review.
The report concludes that the competition had been a high risk and challenging undertaking launched with insufficient planning and recognition of the commercial risks. However, the results of engineering and design studies completed by bidders, upon which the Government spent £40 million (63% cent of the £64 million it spent in total on the competition), may help to reduce the costs of future carbon capture and storage projects.
The cost of the competition was relatively small compared to the investment required to develop carbon capture storage on a commercial scale, and the competition has increased the Department's experience and understanding of project costs in this field.
The DECC now plans to pursue other carbon capture and storage projects using the £1 billion capital fund. The NAO has made recommendations for the Department to address this in its future programme.
|Format||Paperback||Published||16 Mar 2012|
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