A new UK energy bill has been outlined in the Queen’s speech that includes a financial incentive for carbon capture and storage (CCS) coal plants.
The bill includes a £9.5bn levy on electricty suppliers to fund four demonstration carbon capture and storage (CCS) coal power plants that was announced last week by Energy Secretary Ed Miliand.
The CCS incentive could also help finance retro-fit power plants with CCS technology to push them to full capacity if that is required in future, according to the BBC.
Energy secretary Ed Miliband said that the bill meant consumers could be confident British energy was sustainable.
“Carbon capture and storage is a key technology to tackle climate change, and 18 days ahead of the crucial talks in Copenhagen, this bill sets up a new CCS Incentive to support the development of up to four commercial-scale CCS projects in the UK,” Miliband said.
The energy bill will also boost regulator Ofgem’s role in intervention on behalf of customers by protecting them against market abuse.