Carbon Capture ‘Would Send Electricity Prices Soaring’
Wholesale electricity prices would soar from 70 percent and 80 percent with carbon capture and sequestration (CCS) at coal-fired power plants, according to the Energy Department.
According to Bloomberg News, Julio Friedmann, deputy assistant secretary for clean coal at the Energy Department, told the House Energy and Commerce Oversight and Investigations Subcommittee the first generation of CCS technologies have a captured cost of carbon dioxide of between $70-90 per ton for wholesale electricity production. He said a second generation of technologies could drop that cost to $40-50 per ton.
Friedmann said the overall impact on electric prices would depend on the size and type of power plant installing the technology.
EPA standards to regulate carbon dioxide emissions for new power plants would require the use of CCS technologies. Many lawmakers and utility groups say the technology isn’t commercially feasible and would make it impossible to build a new coal power plant in the US
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