CCSA statement on TBI’s ‘Cheaper Power 2030, Net Zero 2050’ report

Responding to the Tony Blair Institute’s report ‘Cheaper Power 2030, Net Zero 2050’, Olivia Powis, CEO of the CCSA, said:

“Low-carbon dispatchable electricity plays a critical role in supporting system resilience and complementing the integration of renewables, keeping our energy supply stable, reliable and affordable.

Today’s report published by The Tony Blair Institute focuses on strategies to deliver cheaper, reliable clean electricity in the UK, and states that “without low carbon technologies [including carbon capture and storage], the integration of high levels of renewables becomes more complex and expensive, making it harder to phase out natural gas and raising costs for consumers and businesses.”

While the report elsewhere questions the cost and pace of deploying CCS in the power sector, this acknowledgment reinforces that CCS remains essential to delivering firm, low-carbon power while driving emissions reduction across industry. Furthermore, CCS-enabled projects do not draw on government funding until they become operational, towards the end of this decade. Pausing them will not reduce bills in the near term, but rather increase the costs of delivering future power CCS projects.”

Key facts on Power-CCS:

• Three capture projects have reached Final Investment Decision (FID) in the UK: Net Zero Teesside Power (Power-CCS), Heidelberg Materials Padeswood (cement), and Encyclis Protos (energy from waste). Only one is a power project, demonstrating the cross-cutting role of CCUS’s in decarbonising the UK’s hard-to-abate industries.
• Power-CCS complements renewables and storage, ensuring reliable, low-carbon electricity even during low-generation periods.
• By scaling now, CCUS drives long-term cost reductions, supports industrial decarbonisation, and underpins energy security and economic competitiveness.
• The CCUS sector could attract £26bn of private investment by 2030 and unlock £94 bn cumulative GVA by 2050, while creating over 50,000 skilled jobs and helping transition 100,000 offshore workers into new low-carbon industries.