John Redwood (Wokingham) (Con)
Who will pay for CCS as it does not generate any direct revenue from retail customers?
Graham Stuart (Minister of State for Energy Security and Net Zero)
To decarbonise industry, we will need CCS and hydrogen. We are socialising the funding requirements across the piece to ensure that we deliver what is necessary to meet our carbon targets, at the lowest possible cost to consumers. This year we are also consulting on measures to prevent carbon leakage, ensure that we do not drive UK industry abroad, which I know my right hon. Friend is concerned about, and instead maintain our competitiveness as we move towards net zero.