Carbon Capture and Storage: Finance
The question
To ask the Secretary of State for Energy Security and Net Zero, pursuant to the Answer of 28 May to Question 53448 on Carbon Capture and Storage, what steps his Department is taking to safeguard against over-subsidisation of specific (a) projects and (b) technologies.
Answered by Sarah Jones
The CCUS Cluster Sequencing Process, which is the selection of the initial carbon dioxide transport & storage networks and projects, and the CCUS business models, under which individual awards for projects are made, have been developed to align with the UK subsidy control regime as per the Subsidy Control Act 2022 and are subject to mandatory referral to the Subsidy Advice Unit, part of the Competition Markets Authority. These business models support the development of transport and storage CO2 networks, as well as the deployment of CCUS in the power, industrial and hydrogen sectors.
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