×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: EU | Britain | Energy

UK Energy Firm Drax Pulls out of Carbon-capture Project

Friday, 25 September 2015 01:27 PM EDT

LONDON (AP) — British power company Drax Group PLC says it is abandoning a project to capture and store carbon from a coal-fueled power plant, a major setback for the technology in Britain.

The White Rose project would have seen most emissions from the power station in northern England stored permanently under the North Sea.

Drax said Friday it was scrapping the project after two years because of "a drastically different financial and regulatory environment." Falling commodity costs have driven down wholesale electricity prices, and the British government has reduced or ended subsidies for renewable and low-carbon energy.

Drax operations director Pete Emery said the company was "confident the technology we have developed has real potential, but have reluctantly taken a decision not to invest any further in the development of this project."

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Europe
British power company Drax Group PLC says it is abandoning a project to capture and store carbon from a coal-fueled power plant, a major setback for the technology in Britain.The White Rose project would have seen most emissions from the power station in northern England...
EU,Britain,Energy
132
2015-27-25
Friday, 25 September 2015 01:27 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
© Newsmax Media, Inc.
All Rights Reserved