CO2 Price of 70 Euros Needed to Support Capture Systems, GE Says
General Electric Co. (GE) said a European Union emissions price of 70 euros ($101.60) a metric ton is needed to make carbon-capture systems viable.
GE Energy has developed a kit that strips carbon from coal before it is burned, a process known as pre-combustion carbon capture. The method produces a stream of hydrogen gas that is then burned to produce electricity.
“The technology is available,” Ricardo Cordoba, president GE Energy Western Europe, North Africa, told reporters at a briefing in Brussels. “We know how to burn hydrogen, which is coming from the gasification of the coal. The problem is cost. Today you cannot compete, you will have nobody investing.”
Carbon capture technology also needs “social acceptance, even if it is totally safe,” Cordoba said.
To contact the reporter on this story: Catherine Airlie in Brussels at cairlie@bloomberg.net
To contact the editor responsible for this story: Stephen Voss at sev@bloomberg.net
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