Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Download Shaun Chamberlin, Managing Director, TEQs
Document related concepts
German Climate Action Plan 2050 wikipedia , lookup
Climate change mitigation wikipedia , lookup
100% renewable energy wikipedia , lookup
Carbon pricing in Australia wikipedia , lookup
Climate change and poverty wikipedia , lookup
Energiewende in Germany wikipedia , lookup
Carbon Pollution Reduction Scheme wikipedia , lookup
Citizens' Climate Lobby wikipedia , lookup
Years of Living Dangerously wikipedia , lookup
IPCC Fourth Assessment Report wikipedia , lookup
Politics of global warming wikipedia , lookup
Low-carbon economy wikipedia , lookup
Mitigation of global warming in Australia wikipedia , lookup
Transcript
TEQs (Tradable Energy Quotas) Getting real in a resource-challenged Europe by Shaun Chamberlin Managing Director EEB Annual Conference Brussels, 18th October 2013 What is TEQs? Tradable Energy Quotas is an electronic system for capping (carbon-rated) energy use, at national level, for all energy users. To purchase any fuel or energy, TEQs units must be surrendered alongside cash payment. All individual citizens receive an unconditional free Entitlement of TEQs units. Other energy users obtain their units through the weekly Tender (auction). Citizens who use less than their Entitlement may sell them and benefit from their energy-thrift. Those who want or need more may buy them from those who are selling. What TEQs could achieve What TEQs could achieve THE GUARANTEE What TEQs could achieve THE GUARANTEE CLEAR LONGTERM SIGNAL What TEQs could achieve THE GUARANTEE CLEAR LONGTERM SIGNAL STIMULATES INNOVATION What TEQs could achieve THE GUARANTEE REDUCES RESOURCE USE CLEAR LONGTERM SIGNAL STIMULATES INNOVATION What TEQs could achieve THE GUARANTEE CLEAR LONGTERM SIGNAL REDUCES PROGRESSIVE RESOURCE USE POLICY STIMULATES INNOVATION What TEQs could achieve THE GUARANTEE CLEAR LONGTERM SIGNAL REDUCES PROGRESSIVE RESOURCE USE POLICY STIMULATES INNOVATION COMMON PURPOSE An equitable, effective and efficient environmental policy framework – guaranteeing emissions reductions, stimulating confidence and innovation and defending Europe’s access to fuel and energy. www.teqs.net www.ceeweb.org/rcc UK Political progress First published 1996 Ten Minute Rule Bill 2004 Government funded research 2006 Pre-feasibility study 2008 (‘international abatement’) Env. Audit Committee (+ IPPR/CSE) report All Party Parliamentary Report (media/endorsements) Tradable Energy Quotas ISSUE 40% Entitlement 60% Tender QuotaCo REGISTRAR CARBON SURRENDER Fuel extractors BUDGET MARKET Citizens Primary dealers Organisations £ COMMITTEE ON CLIMATE CHANGE Fuel wholesalers/ electricity generators Fuel/electricity retailers UNITS FLOW THROUGH THE ENERGY CYCLE Tradable Energy Quotas CARBON BUDGET COMMITTEE ON CLIMATE CHANGE THE CARBON BUDGET 1. Establishes the total quantity of TEQs units (rations) that may be issued 2. Guarantee = long-term confidence Tradable Energy Quotas QuotaCo REGISTRAR CARBON BUDGET COMMITTEE ON CLIMATE CHANGE Tradable Energy Quotas ISSUE 40% Entitlement 60% Tender QuotaCo REGISTRAR CARBON BUDGET COMMITTEE ON CLIMATE CHANGE THE ISSUE OF UNITS 1. By equal Entitlement to all adults (40%) 2. By Tender to all other users (60%) The Tender is a weekly auction at which organisations (industry, government etc.) purchase the TEQs units they need THE RATING SYSTEM Carbon units: (all fuel rated by carbon content) 1 unit = 1kg CO2 (or equivalent gwp) OR Fuel units: 1 unit = 1 litre oil 1 unit = 1 metre3 gas 1 unit = 1 kWh electricity (etc) (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas ISSUE 40% Entitlement 60% Tender QuotaCo REGISTRAR CARBON BUDGET MARKET Citizens Primary dealers Organisations COMMITTEE ON CLIMATE CHANGE THE MARKET FOR UNITS Everyone has access to the same market. The national market price is set by the Tender. Buying and selling as simple as Oyster or mobile phone credit Tradable Energy Quotas ISSUE 40% Entitlement 60% Tender QuotaCo REGISTRAR CARBON BUDGET MARKET Citizens Primary dealers Organisations £ COMMITTEE ON CLIMATE CHANGE Tradable Energy Quotas ISSUE 40% Entitlement 60% Tender QuotaCo REGISTRAR CARBON BUDGET MARKET Citizens Primary dealers COMMITTEE ON CLIMATE CHANGE Organisations £ UNITS FLOW THROUGH THE ENERGY CYCLE Tradable Energy Quotas ISSUE 40% Entitlement 60% Tender QuotaCo REGISTRAR CARBON BUDGET MARKET Citizens Primary dealers Organisations £ COMMITTEE ON CLIMATE CHANGE SURRENDER Extractors /importers Fuel wholesalers/ electricity generators Fuel/electricity retailers UNITS FLOW THROUGH THE ENERGY CYCLE THE SURRENDER OF UNITS A hands-free scheme 1. Utility bills: direct debit (8 times a yr) 2. Petrol: by card (20 times a yr) 3. The cash option Embodied energy in other goods No need to measure emissions Tradable Energy Quotas ISSUE 40% Entitlement 60% Tender QuotaCo REGISTRAR CARBON SURRENDER Extractors /importers BUDGET MARKET Citizens Primary dealers Organisations £ COMMITTEE ON CLIMATE CHANGE Fuel wholesalers/ electricity generators Fuel/electricity retailers UNITS FLOW THROUGH THE ENERGY CYCLE
