Feasibility comparison of bioenergy and CO₂ capture and storage in a large combined heat, power and cooling system

Heating and cooling is responsible for almost 50% of the final energy demand in Europe. One of the most developed combined heat, power and cooling (CHPC) systems in the world exists in Helsinki, Finland, operated by Helen Ltd. As one option for significant reductions in direct CO₂ emissions from Helen's fleet, this paper presents case studies for different options regarding a multifuel CHP plant planned for Helsinki. The studied cases include coal firing, co-firing high proportion of forest residues with coal, applying post-combustion CCS for coal firing, and combination of CCS and biomass co-firing. The cases are compared in different market situations in terms of the operation and profitability of the plant portfolio. The results highlight the sensitivities of economic feasibility on different market prices. With the default values assumed, the co-firing case is about as profitable as coal firing solely at present price of CO₂ allowances. If CO₂ price increases, co-firing becomes the most feasible option until the combination of co-firing and CCS becomes the most feasible option if the price of CO₂ allowance is high. However, this would require recognising bio-CCS, and the “negative” CO₂ emissions it generates, in the regulations of EU Emissions Trading System.