Everywhere you look this week there’s news about Coal, and how we need to pay to clean it up, and how wonderful this idea is.
I don’t buy it. But I’m going to be forced to pay for it through my electricity bills regardless :-
“Tax on electricity to fund carbon capture plan : Capturing carbon emitted by coal power stations and storing it underground should be paid for through a tax on electricity prices, the Government has said. : By Rowena Mason : Published: 9:19PM BST 17 Jun 2009 : Ed Miliband, the energy secretary, said four new “carbon capture and storage” trials would eventually add 2pc to bills through a levy on electricity suppliers – the day after the Government announced a tax on fixed telephone lines to fund high-speed broadband. It is too early to estimate the total cost of the project, he added, but the Government hopes it could create 60,000 jobs and boost the economy by £4bn. Analysts predicted that the scheme might cost between £750m and £6bn, with some funding potentially from the European Union.”
I must say I’m left rather confused.
The European Union “funding potentially” is I presume a direct reference to the proposal from the EU to start Auctioning off EUAs – European Union Allowances under the EU Emissions Trading Scheme – and then push the revenues to Carbon Capture and Storage :-
“One of the points agreed by the European Council last week was that the revenue raised by auctioning 300 million of the EUAs would be used to fund for Carbon Capture and Storage (CCS) demonstration projects.”
So, in other words the UK electricity bill payers would be hit twice : once for a levy to fund Carbon Capture and Storage in the UK, and then again in the added cost passed on to them from their Energy providers to pay for the Auctioned Carbon.
So that could be a lot more than 2% extra on the bills, eh ?