{"id":7772,"date":"2017-10-27T20:55:41","date_gmt":"2017-10-27T19:55:41","guid":{"rendered":"http:\/\/www.theoillamp.co.uk\/?p=7772"},"modified":"2017-10-27T20:55:41","modified_gmt":"2017-10-27T19:55:41","slug":"one-thing-learnt-week-cost-energy-review","status":"publish","type":"post","link":"https:\/\/www.theoillamp.co.uk\/?p=7772","title":{"rendered":"One thing we have learnt this week – cost of energy review"},"content":{"rendered":"

\"DSC_2159\"<\/a>The energy economist Dieter Helm was asked to lead a “cost of energy review” for the government.\u00a0 This has just been published.\u00a0 His terms of reference were to work out ways of decarbonising the energy system whilst having cheap energy.\u00a0\u00a0 This a few years ago looked like a contradiction in terms and indeed still maybe as I will come to later.<\/p>\n

He says that the cost of energy has fallen markedly over the last few years and we are not seeing the benefits of this.\u00a0 The reasons are;<\/p>\n

“because of legacy costs, policies and regulation, and the continued exercise of market power.<\/em>”<\/p>\n

Legacy costs means things like the FIT and the renewable obligation.<\/p>\n

His solutions?<\/p>\n

“The most efficient way to meet the CCA target and the carbon budget is to set a universal carbon price on\u00a0 a\u00a0 common\u00a0 basis\u00a0 across\u00a0 the whole\u00a0 economy,\u00a0 harmonising\u00a0 the\u00a0 multiple\u00a0 carbon\u00a0 taxes\u00a0 and\u00a0 prices currently\u00a0 in\u00a0 place.\u00a0 This\u00a0 price\u00a0 should\u00a0 vary\u00a0 so\u00a0 as\u00a0 to\u00a0 meet\u00a0 the\u00a0 carbon\u00a0 targets.\u00a0 It\u00a0 would\u00a0 be\u00a0 significantly lower than the cost of the current multiple interventions.<\/em>”<\/p>\n

There would be a border carbon price to cope with the fact that we had introduced such a thing unilaterally.<\/p>\n

The\u00a0cost of energy review goes onto say that there should not be a price cap but standard variable tariffs should be done away with.\u00a0 The FIT should be phased out (I assume going forward rather than retrospectively).<\/p>\n

What was encouraging was the Professor Helm who used to be sniffy about renewables was very positive about them when interviewed on the radio about the cost of energy review report tonight.\u00a0 He thought electricity was going to be very cheap and was worried the current energy costs would put people off renewables.\u00a0 This is only true if we can meet the demand for electrifying the economy.<\/p>\n

Neil<\/p>\n","protected":false},"excerpt":{"rendered":"

The energy economist Dieter Helm was asked to lead a “cost of energy review” for the government.\u00a0 This has just been published.\u00a0 His terms of reference were to work out ways of decarbonising the energy system whilst having cheap energy.\u00a0\u00a0 … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[29,17,4],"tags":[269,58,74,61,63],"class_list":["post-7772","post","type-post","status-publish","format-standard","hentry","category-energy-costs","category-one-thing-we-have-learnt-this-week","category-renewables","tag-climate-change","tag-economics-2","tag-energy-costs-2","tag-renewable-energy","tag-renewables-2"],"yoast_head":"\nOne thing we have learnt this week - cost of energy review - 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