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UK Energy Policy

UK Energy Policy. Philip Pearson www.tuc.org.uk. UK Energy Policy Framework. 2008 Climate Change Act Legally binding targets 34% cut in CO2 emissions 2020 60% by 2030 80% 2050 Independent Committee on Climate Change 4 x 5-year Carbon Budgets. UK – carbon budget cuts.

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UK Energy Policy

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  1. UK Energy Policy Philip Pearson www.tuc.org.uk

  2. UK Energy Policy Framework 2008 Climate Change Act • Legally binding targets • 34% cut in CO2 emissions 2020 • 60% by 2030 • 80% 2050 • Independent Committee on Climate Change • 4 x 5-year Carbon Budgets

  3. UK – carbon budget cuts • 2012: 574 MtCO2e • 2030: 310 MtCO2e • = 60% reduction on 1990. • = 46% reduction over the next 20 years • = 62% cut 2030 -2050 to meet 2050 target.

  4. Greatest effort needed - 4 priority sectors • Energy supply: energy mix and CO2 intensity • Surface transport: road • Domestic Energy Efficiency • Industrial Energy Efficiency

  5. New Energy Legislation 2013 • Power = 25% UK greenhouse gases • £110bn investment needed • C02 target for 2013 Energy Act: • 2030 = C02 intensity 50-100g • 2012 = 500g CO2 KWH

  6. UK Electricity Supply – Market Share Source: Elexon – bmreports.com

  7. Energy: Policy vs political risk • 2020 RE target: 15% energy/30% electricity • CCS [4 pilots] for coal & gas &industry • Coal plant closures • New nuclear • “dash for gas” • Green Investment Bank • EU = ETS reforms • “Greenest government ever” • RE hostility • Public investment • Balance Regulation vs Market • Austerity > GIB • Lobby • Investors “gaming” • Oil & gas lobby • Anti-EU Policy Risk

  8. TUC Energy Policy in Transition • “Balanced” energy supply – renewables, new nuclear, CCS for coal & gas • Green Investment Bank • CO2 tax/floor price • FITs • No to shale gas • “Green Deal” domestic energy • Greening the workplace • Skills for low carbon economy • Energy intensive industries • CCS – regional networks • On-site power generation • Low carbon vehicle manufacture Energy Industry

  9. CCS: power & industry clusters Yorkshire 60 MT C02 carbon cluster • Regional CCS network: CO2 Sense • Reliable/flexible low carbon energy supply. • “Industrial security” • Low-carbon economy/jobs. • Developing key skills and expertise. • Attracting direct investment.

  10. UK carbon tax “Carbon price floor” • 2020 (£30/tCO2) • 2030 (£70/tCO2) “is consistent with longer-term emissions targets and should strengthen incentives for emission reductions.” [CCC] • Recycling revenues?

  11. Carbon Revenue Forecast Total revenue between 2013 and 2027 is £64bn (£11bn CPS) 14

  12. “Just Transition” in practice • Greening the workplace • Green Economy Council • Energy Intensive Industries Skills • Investment • Energy Roundtable • Social partner initiatives & campaigns • Clean Coal Task Group • Energy Intensive Industries • Renewable energy • www.tuc.org.uk – go to Green Workplaces

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