To ask the Secretary of State for Energy Security and Net Zero, if his Department will make an assessment of the potential impact of adding carbon capture, utilisation and storage costs onto household bills.
Answered on
3 December 2024
We have created several business models to fund CCUS projects, designed to ensure value for money whilst providing long term sight of revenue streams for investors. CCUS will be funded by a mixture of exchequer and levy sources, the exact split to be determined in due course. Negotiations with projects are ongoing and therefore commercially confidential. Final awards will be published on the UK subsidy database. We will continue to learn from the first clusters as they approach Final Investment Decisions and apply these lessons to further development of CCUS to ensure that it delivers value for money.