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Natural gas is primarily comprised of the gas methane. It is a relatively clean-burning fuel, but like any carbon fuel its combustion emits carbon dioxide. So while a cogeneration plant is an efficient way to use natural gas, and is a reliable source of electrical energy, it does make a significant contribution to climate change.
One of the costs of using gas as source for our electricity is that we will have to pay for carbon credits. These are relatively inexpensive now, but their price will go up. Another cost is the cost of the gas, and the uncertainty that exists about its future price in a world where there is a diminishing supply.