E.ON - Dr Paul Golby on the CCS competition

Dr Paul Golby, Chief Executive of E.ON UK, announces that E.ON won't proceed to the next stage of the Government's carbon capture and storage competition.

Read the full press release here: http://ow.ly/2Wjce

Category:

News & Politics

Tags:

• eon
• power
• energy
• carbon
• CCS
• Kingsnorth
• Paul Golby

[talkingenergy]

Hi @alasdaircameron1 Unconventional gas has altered the economics of power production and current market rules mean that a cleaner plant like new Kingsnorth, which is more expensive to run than an existing unabated plant, would not make economic return on our investment. That’s one reason why we’re talking to the Gov about a Low Carbon Obligation to run alongside a carbon floor price. We believe this would reward cleaner generation and not just cheaper generation as happens currently.

[alasdaircameron1]

Don't the energy companies keep telling us that coal is the cheapest form of power, and that without it the lights will go out? But yet there is no economic case? Seems to me that the need for coal has been greatly overestimated in the last few years....