2.a.iv Other investment assistance or cost sharing method; 1.a.ii. Project-based, offsets or credit-based systems; 3.c. Mandatory CCS; 3.b. Facility performance standards; 2.c.i. Transfer of long-term liability 2.a.i. Investment assistance and trust funds.
CITATION:
Directive of the European Parliament and the Council on the Geological Storage of Carbon Dioxide
STATUS:
Proposed
TIME FRAME Start:
2009
TIME FRAME End:
DESCRIPTION:
In October 2008, the Environmental Committee of the European Parliament recommended a list of measures to promote carbon capture and storage. The list of recommendations includes: 12 CCS Demonstration Projects. The Commission should ensure that contracts for construction of 12 large-scale CCS demonstration facilities by 2015 – as promised by the European Council in March 2007 – are let before the UN meeting in Copenhagen in November 2009. ETS Allowances. Possibly award up to 500 million ETS allowances to CCS projects in the EU or third countries.The value will depend on the price of CO2 when the gas is eventually injected underground. Mandatory CCS from 2015. The Committee recommends that all power stations built from 2015 be equipped with CCS. Emission Performance Standard. The Committee proposed an emission performance standard for new power plants with a capacity over 300 MW. From 2015 onwards those power plants would be allowed to emit a maximum of 500 grams CO2 per kilowatt hour. Monitoring Fund. Operators of CCS projects would have to pay annually into a fund set up by the Member State where storage is located to cover the costs of monitoring, oversight and remediation after responsibility for a closed storage site has based to the national authority. Long Term Liability. The Committee proposed that all legal obligations for the long term storage of CO2 to the Member state only after the storage site has been closed for 50 years. More Time for National Laws. The Committee wants to give member states two years after the directive's publication to make it national law.
