The cost of electricity generated by a coal-fired power plant fitted with carbon dioxide capture and storage (CCS) will be €0.65-0.85/kWh when the technology is commercially available in 2015, according to the study.

Alstom says CCS technology is now on the point of large-scale deployment, and that Europe is well-positioned to take a lead.

“This is a decisive moment for players in the European energy field, in industry or in policy-making, if they want to actively position themselves as leaders on the world stage for this field of decarbonised fossil fuels, where there is considerable potential,” says Joubert, according to Energy Efficiency News.

The report also indicates that costs are likely to improve over the years as the technology matures and will also be similar for gas-fired power stations.