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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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slide1
TEQs(Tradable Energy Quotas)Getting real in a resource-challenged Europe byShaun ChamberlinManaging DirectorEEB Annual ConferenceBrussels, 18th October 2013
what is teqs
What is TEQs?

Tradable Energy Quotas is

an electronic system for capping (carbon-rated) energy use

,

at national level

,

for all energy users.

slide3
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.

slide11
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.

uk political progress
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)

slide13
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

slide14
CARBON

BUDGET

COMMITTEE ON CLIMATE CHANGE

Tradable Energy Quotas

the carbon budget
THE CARBON BUDGET

1. Establishes the total quantity of TEQs units (rations) that may be issued

2. Guarantee = long-term confidence

slide16
QuotaCo REGISTRAR

CARBON

BUDGET

COMMITTEE ON CLIMATE CHANGE

Tradable Energy Quotas

slide17
QuotaCo REGISTRAR

ISSUE

CARBON

60% Tender

40% Entitlement

BUDGET

COMMITTEE ON CLIMATE CHANGE

Tradable Energy Quotas

the issue of units
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

the rating system
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)

slide20
QuotaCo REGISTRAR

ISSUE

CARBON

60% Tender

40% Entitlement

BUDGET

MARKET

Primarydealers

COMMITTEE ON CLIMATE CHANGE

Citizens

Organisations

Tradable Energy Quotas

the market for units
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

slide22
QuotaCo REGISTRAR

ISSUE

CARBON

60% Tender

40% Entitlement

BUDGET

MARKET

Primarydealers

COMMITTEE ON CLIMATE CHANGE

Citizens

Organisations

£

Tradable Energy Quotas

slide23
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

slide24
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

the surrender of units
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

slide26
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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