The UK is committed to Carbon Capture and Storage (CCS) as a key part of its carbon reduction efforts. There has been a long history of early stage CCS projects in the UK, but converting these into operational projects has proved a challenge.
The Wood Review, published in February and aimed at identifying ways to stimulate North Sea oil and gas activity, proposes the creation of a new arm’s length industry regulator or agency to take on a broad industry facilitation role. When one looks at the roles proposed for this new agency, one could be excused for having a sense of ‘déjà vu’.
Electricity Market Reform (EMR) constitutes the single biggest change in the UK electricity market in a generation. EMR is intended to provide the commercial basis for generations of low-carbon electricity at the lowest possible cost, whilst being neutral to the energy source used.