I would need to see something about how much electricity they're talking about here. I am not seeing a way to do this with less than the electricity you got from burning the fossil fuels in the first place (and inevitably, somewhat more). The only way I could see this being useful is if at some point in the future we are no longer burning fossil fuels for electricity, and we want to get the CO2 back out of the atmosphere. But, you know, turning them into living trees is not a bad way to do that, and it already exists...