No prizes for guessing why those networks are hard-pressed: step forward ‘net zero’ climate obsession. Lack of reliable electricity supply didn’t happen overnight.
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National Grid is quitting its foray into developing carbon capture and storage in the UK, in a blow to the Government’s net zero ambitions, says the Daily Telegraph.
The FTSE 100 company is abandoning its plans to develop new pipelines in the Humber region to take carbon dioxide emissions out to the North Sea.
Its National Grid Ventures arm is in talks to sell the onshore pipeline project to partners, and has already quit another phase of the project.
Carbon capture and storage is considered key to the Government’s plans to reach net zero carbon emissions by 2050, but is not yet up and running at scale in the UK.
Power plants in the Humber region hoping to start capturing their emissions missed out on a fresh round of government support announced at the end of last month.
National Grid said it wants to focus instead on its electricity networks, which are in major need of upgrades to help cope with the rise in wind farms, electric cars and heat pumps.
A spokesman said it was “committed to managing a smooth transition” as it moved to transfer its carbon capture interests to partners.
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BP is now expected to become the system operator from end to end.
Full article here.
via Tallbloke’s Talkshop
April 24, 2023 at 03:41AM