Coal with Carbon Capture and Sequestration Act of 2015

the high cost of installing and using technology to capture carbon dioxide from coal-fueled electric generating units can be mitigated by providing certainty, for a limited period of time, with respect to revenues from the sale of captured carbon dioxide;

the volatility of crude oil prices that determine the price paid for carbon dioxide creates uncertain market prices for carbon dioxide that is purchased and used to recover crude oil or for other beneficial purposes;

assistance to stabilize the price received for carbon dioxide captured during the use of coal provides a degree of certainty to debt providers and investors with respect to the revenues to be received from the sale of carbon dioxide; and

creating added certainty that captured carbon dioxide would receive a certain, agreed upon price for a limited period of time would help to ensure that carbon capture and storage technology would be developed and used.

Definition of electric generation unit— In this section, the term electric generation unit means an electric generation unit that uses coal-based generation technology.

Contracting authority— Beginning on the date of enactment of this Act, the Secretary of Energy may enter into binding contracts on behalf of the Federal Government, the duration of which shall not exceed 25 years, with qualified parties to provide price stabilization support for electricity generated at an electric generation unit or carbon dioxide captured from an electric generation unit and sold to a purchaser for—