Carbon capture, usage and storage (CCUS): duties and functions of an economic regulator for CO2 transport and storage
Read the full outcome
Detail of outcome
The responses to this consultation will inform our approach to the establishment of an economic regulator for CO₂ transport and storage (T&S) networks.
The January 2022 TRI model update sets out the government’s current position on the development of the TRI model and the role of the economic regulator for T&S.
We will continue to develop the policy and proposals set out in the government response and the TRI model update, and will introduce legislation on a statutory mandate for the regulator when Parliamentary time allows.
Detail of feedback received
We received 27 responses to the consultation on the duties and functions of the economic regulator. Most of the responses were from businesses and industry groups in the CCUS sector, including:
- 5 from emitters who are potential users of transport and storage (T&S) networks
- non-governmental organisations
- private individuals
- sector regulators
- devolved governments
Responses were broadly supportive across a number of areas, and will inform further consideration of the policy approach for the duties and functions of the T&S economic regulator.
Original consultation
Consultation description
This consultation seeks views on proposed duties, powers, functions and objectives of an economic regulator for carbon dioxide (CO2) transport and storage networks, to inform the continued development of carbon capture, usage and storage (CCUS) policy and legislative proposals.
It follows our 2019 consultation on business models for CCUS, the government response to which set out that an independent body is likely to be required to oversee the development of the CO2 transport and storage network and support its deployment.
This consultation will be of interest to:
- investors and developers involved in potential CCUS projects
- the industrial and energy sectors more widely
- NGOs and other organisations with an interest in climate and energy
- regulatory bodies and authorities with an interest in CCUS
See the BEIS consultation privacy notice.
Please do not send responses by post to the department at the moment as we may not be able to access them.
Documents
Updates to this page
Last updated 17 January 2022 + show all updates
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Government response published.
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First published.