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EU Commissioner Supports CCS Investment through ETS

Thursday, November 13, 2008
Source:CARBONCAPTUREJOURNAL
Article Type: Cited


At the Zero Emission Platform (ZEP) General Assembly in Brussels, EU energy commissioner Andris Piebalgs stated his support for using carbon allowances under the ETS to fund 12 CCS demonstration projects.

Commissioner Pielbags said that the Commission will be sending a positive signal regarding the so-called Doyle-Davies amendment, to use 500 million ETS Emissions allowances from the ETS New Entrants Reserve for the building of 12 CCS demo projects.

This fund could be worth up to €20 billion depending on the cost of carbon emission allowances.

"The amendment can offer means of helping all new low carbon technologies demonstration, including early CCS projects, to cover part of the additional demonstration costs regular power plants will not face. However, any use of the EU ETS new entrants' reserve for low carbon technologies, including CCS, must also be acceptable to Member States," said Commissioner Pielbags.

He also stressed that the funding must be structured to avoid windfall profits for the operators, to the ETS as little as possible and to meet state aid rules.

The ZEP at the same time unveiled a new report aimed at speeding up the deployment of the EU-wide CCS Demonstration Programme which is intended to achieve the commercial availability of CCS by 2020.

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