A MARKET worth up to £35Bn could be created with the rollout of carbon capture and storage (CCS) technology in Scotland, says the TUC and the Carbon Capture and Storage Association (CCSA).
A seminar at the University of Aberdeen will focus on the next steps to ensure that Scotland makes the most of opportunities highlighted in the report The Economic Benefits of CCS in the UK. Key findings from the report include:
- CCS can play a vital role in helping the UK meet its statutory target to reduce greenhouse gas emissions by 80% by 2050. It has been estimated that without CCS, the cost of meeting this target will rise by £30-40Bn per year.
- Inclusion of CCS in the mix of low-carbon technologies would result in a 15% reduction in wholesale electricity prices – leading to an average cut in household bills of £82 a year.
- Each new-build CCS power plant would generate between 1,000 and 2,500 jobs in construction, with a further 200-300 jobs in operation, maintenance and the associated supply chain.
- CCS could help the UK to retain existing industries, such as coal and gas power generation, and support vital energy-intensive industries (such as chemicals, steel and cement manufacture) which employ 800,000 people directly and in supply chains.
TUC general secretary Frances O’Grady said: “Carbon capture storage technology offers a way to meet our environmental targets, while creating thousands of skilled, well-paid jobs and transforming regional economies.
