An economic and technical study of carbon dioxide (CO2) reduction technologies was conducted. In order to compare technologies on a consistent economic and technical basis evaluation guidelines were proposed. Data on the emissions impact and cost impact of each technology was collected through a literature review. The CO2 reduction cost was available for some technologies and calculated as part of the study for the remainder under consideration. The CO2 reduction cost was compared to the current market value of CO2 emissions credits in the European Trading Scheme. Results indicate that for existing power plants efficiency improvements such as boiler optimization are capable of providing modest CO2 emissions reductions for less than the market value of CO2 credits. More significant reductions are available through post-combustion flue gas decarbonization and pre-combustion fuel decarbonization at cost comprable to CO2 credit values seen in 2006. Systems processes indicate pre-combustion fuel processing is capable of significant cost reduction through further technology development.