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Higher electricity prices will pay for carbon capture

19/06/2009

Four new `carbon capture and storage` trials will lead to an increase in electricity bills, The Telegraph reports.

Although it is too early to estimate how much the project will cost in total, Energy Secretary Ed Miliband commented that the Government hopes it could create 60,000 jobs and boost the economy by £4bn.

He also mentioned that the new carbon capture and storage trials would eventually add 2% to bills through a levy on electricity suppliers.

A spokesperson for Debt Advisers Direct said: "Many people have found it hard to keep up with rising energy prices over the past year, and a further increase could add to the difficulty of paying the bills.

"This could place a real strain on people`s finances - especially people who are already struggling with debt repayments and other financial commitments."

Given that the technology involved in transporting and burying carbon has yet to prove its worth, the Government is also creating a `contingency plan` for reducing the emissions from coal-powered plants.

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