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What is TEQs?

TEQs (Tradable Energy Quotas) Getting real in a resource-challenged Europe by Shaun Chamberlin Managing Director EEB Annual Conference Brussels, 18 th October 2013. What is TEQs?. T radable E nergy Q uota s is an electronic system for capping (carbon-rated) energy use. ,.

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What is TEQs?

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  1. TEQs(Tradable Energy Quotas)Getting real in a resource-challenged Europe byShaun ChamberlinManaging DirectorEEB Annual ConferenceBrussels, 18th October 2013

  2. What is TEQs? Tradable Energy Quotas is an electronic system for capping (carbon-rated) energy use , at national level , for all energy users.

  3. 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.

  4. What TEQs could achieve

  5. What TEQs could achieve

  6. What TEQs could achieve

  7. What TEQs could achieve

  8. What TEQs could achieve

  9. What TEQs could achieve

  10. What TEQs could achieve

  11. www.teqs.net www.ceeweb.org/rcc An equitable, effective and efficient environmental policy framework – guaranteeingemissions reductions, stimulating confidence and innovation and defending Europe’s access to fuel and energy.

  12. 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)

  13. QuotaCo REGISTRAR ISSUE SURRENDER Fuel extractors CARBON 60% Tender 40% Entitlement BUDGET Fuel wholesalers/ electricity generators MARKET Primarydealers COMMITTEE ON CLIMATE CHANGE Citizens Fuel/electricity retailers Organisations £ UNITS FLOW THROUGH THE ENERGY CYCLE Tradable Energy Quotas

  14. CARBON BUDGET COMMITTEE ON CLIMATE CHANGE Tradable Energy Quotas

  15. THE CARBON BUDGET 1. Establishes the total quantity of TEQs units (rations) that may be issued 2. Guarantee = long-term confidence

  16. QuotaCo REGISTRAR CARBON BUDGET COMMITTEE ON CLIMATE CHANGE Tradable Energy Quotas

  17. QuotaCo REGISTRAR ISSUE CARBON 60% Tender 40% Entitlement BUDGET COMMITTEE ON CLIMATE CHANGE Tradable Energy Quotas

  18. THE ISSUE OF UNITS • By equal Entitlement to all adults (40%) • 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

  19. 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)

  20. QuotaCo REGISTRAR ISSUE CARBON 60% Tender 40% Entitlement BUDGET MARKET Primarydealers COMMITTEE ON CLIMATE CHANGE Citizens Organisations Tradable Energy Quotas

  21. 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

  22. QuotaCo REGISTRAR ISSUE CARBON 60% Tender 40% Entitlement BUDGET MARKET Primarydealers COMMITTEE ON CLIMATE CHANGE Citizens Organisations £ Tradable Energy Quotas

  23. QuotaCo REGISTRAR ISSUE CARBON 60% Tender 40% Entitlement BUDGET MARKET Primarydealers COMMITTEE ON CLIMATE CHANGE Citizens Organisations £ UNITS FLOW THROUGH THE ENERGY CYCLE Tradable Energy Quotas

  24. QuotaCo REGISTRAR ISSUE SURRENDER Extractors/importers CARBON 60% Tender 40% Entitlement BUDGET Fuel wholesalers/ electricity generators MARKET Primarydealers COMMITTEE ON CLIMATE CHANGE Citizens Fuel/electricity retailers Organisations £ UNITS FLOW THROUGH THE ENERGY CYCLE Tradable Energy Quotas

  25. THE SURRENDER OF UNITS A hands-free scheme • Utility bills: direct debit (8 times a yr) • Petrol: by card (20 times a yr) • The cash option Embodied energy in other goods No need to measure emissions

  26. QuotaCo REGISTRAR ISSUE SURRENDER Extractors /importers CARBON 60% Tender 40% Entitlement BUDGET Fuel wholesalers/ electricity generators MARKET Primarydealers COMMITTEE ON CLIMATE CHANGE Citizens Fuel/electricity retailers Organisations £ UNITS FLOW THROUGH THE ENERGY CYCLE Tradable Energy Quotas

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