About The Submission:

This letter shares our recommendations on the design of carbon contracts for difference (CCfD). We believe that CCfDs have an important role to play in creating certainty around carbon pricing and therefore can help incentivize new low-carbon projects at no additional cost to the government. However, poorly designed CCfDs risk undermining carbon pricing and resulting in significant fossil fuel subsidies. In addition, if CCfDs are used for carbon capture and storage in the energy sector, they risk further entrenching carbon lock-in or stranded assets.


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