Carbon Sequestration

Department for Energy and Climate Change written question – answered on 25th January 2016.

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Photo of Harry Harpham Harry Harpham Labour, Sheffield, Brightside and Hillsborough

To ask the Secretary of State for Energy and Climate Change, what assessment she has made of the effect on private sectors investment in carbon capture and storage (CCS) of the Government's decision to end the CCS fund.

Photo of Andrea Leadsom Andrea Leadsom The Minister of State, Department of Energy and Climate Change

The UK is widely seen to be one of the most stable markets due to its attractive risk and return profile, world class regulation, transparent policy development, strong financial markets and clear property rights for investors.

Our view remains that CCS has a potential role in the long-term decarbonisation of the UK. We are engaging closely with the two bidders and wider CCS industry on both the implications for them of the decision to withdraw the CCS Competition’s ring-fenced capital budget, and the future of CCS in the UK. As part of this engagement, Government held a meeting of the joint industry/Government CCS Development Forum, co-chaired by Minister of State, in December 2015.

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