The UK Government have been told that Carbon Capture technology could save the taxpayer billions - 10 months after pulling the plug on Peterhead’s £1 billion project.
A report from the Parliamentary Advisory Group on Carbon Capture and Storage (CCS) has told the government that the technology is “essential” in delivering the lowest cost low carbon emissions.
The report states that there is “no justification in delay” with the advisory group projecting savings of £1 - 2 billion per year for UK consumers in the 2020s rising to £4-5 billion per year by the 2040s.
Peterhead power station had been one of two bidders for the £1 billion grant for developing CCS technology before the UK Government axed the funding in November 2015.
Banff and Buchan MP Eilidh Whiteford has now called on the UK Government to rethink its long-term energy strategy.
Dr Whiteford said: “Having known perfectly well that major action is needed to meet the UK’s climate change targets, the UK Government pulled the plug on a potential £1bn carbon capture plan for Peterhead anyway.
“Constituents were furious at the time, and this report from the Parliamentary Advisory Group serves to remind us just how appallingly short-sighted the UK Government’s energy policy remains.”
In light of the report Dr Whiteford has stated that Teresa May and her government should focus on CCS instead of spending billions building a new power station in Somerset.
Dr Whiteford said: “Rather than invest in next-generation renewables, Teresa May’s Government is seriously considering an eye-wateringly expensive nuclear power station at Hinkley Point, which will cost £37bn over its lifetime.
“Mrs May should reconsider her predecessor’s decision, and re-establish viable funding streams for carbon capture.”