The UK is committed to the Paris Agreement and has a legally-binding target to reduce economy-wide greenhouse gas emissions by 80% relative to 1990 levels by 2050. Meeting these targets would require deep decarbonisation, including the deployment of negative emissions technologies. This study, via a power supply capacity expansion model, investigates the potential role of bio-energy with carbon capture and storage (BECCS) and direct air capture and storage (DACS) in meeting the UK's emissions reduction targets. We show that to achieve power sector decarbonisation, a system dominated by firm and dispatchable low-carbon generators with BECCS or DACS to compensate for their associated emissions is significantly cheaper than a system dominated by intermittent renewables and energy storage. By offsetting CO2 emissions from cheaper thermal plants, thereby allowing for their continued utilisation in a carbon-constrained electricity system, BECCS and DACS can reduce the cost of decarbonisation by 37–48%. Allowing some this value transferred to accrue to NETs offers a potential route for their commercial deployment.