Businesses could benefit from north-east funding - 08/03/2011
Business energy users in the north-east might have heard that plans for two power stations could receive a significant cash injection from the government.
NEBusiness reported that the coal-fired power plant at Lynemouth in Northumberland and a new carbon capture and storage coal-fuelled facility on the Tees stand in line for £1 billion each.
If the funding is achieved, businesses in the region could benefit from the support given to the north-east's industrial future.
Dr Stan Higgins, chief executive of the North East of England Process Industry Cluster, told the publication: "There is a good chance we will get at least one for a variety of reasons, but if we don't then this has the potential to put thousands of jobs at risk.
"Carbon capture and storage is the only technology we have at the moment which can counteract punitive carbon taxes. The north-east needs to have at least one of the schemes," he added.
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