The Department for Business, Energy & Industrial Strategy (the department) has not achieved value for money for its £100 million spend on the second competition for government financial support for carbon capture storage, according to the National Audit Office. Carbon Capture Storage (CCS) is a process to avoid the release of carbon dioxide (CO2) into the atmosphere. CCS has the potential to help the UK achieve its ambitious targets to reduce CO2 emissions, if it is used in the power and industrial sectors. The Department also spent £68 million on the first competition on support for CCS, which it cancelled in 2011. Today’s report found that the Department’s plan to use a second competition to develop and deploy carbon capture and storage was ambitious, but ultimately, unsuccessful.
National Audit Office 20th Jan 2017 read more »