Energy policy in europe the uk and eire
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Energy Policy in Europe, the UK and Eire. Dieter Helm, Professor of Energy Policy University of Oxford Dublin Economics Workshop 16 th June 2011 Trinity College. Agenda. Myths and illusions in energy policy The renewables directive Decarbonisation of electricity by 2030

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Energy policy in europe the uk and eire

Energy Policy in Europe, the UK and Eire

Dieter Helm,

Professor of Energy Policy

University of Oxford

Dublin Economics Workshop

16th June 2011

Trinity College


Agenda

Agenda

  • Myths and illusions in energy policy

  • The renewables directive

  • Decarbonisation of electricity by 2030

  • The context – all islands and the EU

  • Energy market reform

  • Unbundling, privatisation and competition

  • Towards a comprehensive, sustainable energy policy


Myths and illusions in energy policy

Myths and illusions in energy policy


The renewables directive

The renewables directive

  • 2020 is 9 years away

  • Renewables in Europe (wind) make little difference to global warming

  • Offshore wind is incredibly expensive

  • Wind may  marginal system energy price = 0

  • The UK (and others) will fail

  • Much cheaper strategy = gas-for-coal


Decarbonisation of electricity by 2030

Decarbonisation of electricity by 2030

  • Shale gas

  • Smart meters

  • Smart grids

  • Electric cars

  • Storage and batteries

    +

  • Potential for breakthrough technologies


The context

The context

North European Markets

All Islands

Norway

All Ireland

Netherlands

Eire

France


Energy market reform

Energy market reform

ENGLAND

WALES

SCOTLAND

FiTs

+

Capacity

+

Floor price

+

EPS

NORTHERN IRELAND

Capacity + Pool

FRANCE administered nuclear markets

Eire (4GW)

Break-up

Non-EUETS

Carbon Tax

Netherlands / German markets


Unbundling privatisation and competition in eire

Unbundling, privatisation and competition in Eire

  • 4 GW is very small (= Drax)

  • Legal vs. ownership unbundling

  • Structure of market and market design

  • Impact of foreign takeover

     Some questions:

  • How will Eire ensure supply?

  • What happens if no investment?

  • What impact will intervention have?

  • What will the price be with lots of wind?

  • Etc etcetc.....


Towards a comprehensive sustainable energy policy

Towards a comprehensive, sustainable energy policy

  • Coal  gas for CO2 transition

  • Flexible renewables (wider definition, onshore wind etc)

  • LNG + interconnectors

  • Integrated all islands market

  • Capacity contracts (long term)

    And

  • Look after Eire’s interests in a bigger market


Www dieterhelm co uk

www.dieterhelm.co.uk

Helm, D. R. (2011),"Green growth: opportunities, challenges and costs", in: Tsoukalis, L and Emmanouilidis, J. eds. (2010), “The Delphic Oracle on Europe: Leaders and Coalitions, New European Contract and Europe's Global Role”, Oxford University Press

Helm, D. R. (2011), "Look to gas for the future", Prospect Magazine, March 24th.

Helm, D. R. (2011), “What next for EU energy policy?”, Centre for European Reform, forthcoming.

Helm, D. R. (2011),"Peak Oil and Energy Policy – a critique", Forthcoming in Oxford Review of Economic Policy, Vol 26, Issue 4.

Helm, D. R. (2010),“Infrastructure and infrastructure finance: The role of the government and the private sector in the current world", EIB Papers ,vol. 15 (2) on Infrastructure and infrastructure finance, 2010.

Helm, D. R. (2010),“The Case for a Carbon Tax” in Greener, Cheaper edited by Simon Less, Policy Exchange, July 27th 2010.

Helm, D. R. (2009), “Nuclear Power, Climate Change and Energy Policy”, in The Economics and Politics of Climate Change, edited by Helm and Hepburn, OUP.


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