TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust...

TEQs(Tradable Energy Quotas)

What they are

How they work

Why we need them

WHAT TEQs ARE FOR

1. Guaranteeing that our national carbon budget is achieved

2. Empowering communities and building a common purpose

3. Securing fair access to fuel at times of deep scarcity

What are TEQs?

Tradable Energy Quotas arean electronic system for rationing

carbon-rated energy

for all energy users.at national level

,,

All individuals receive an unconditional free Entitlement to TEQs units.

All other users obtain their units through the weekly Tender (auction).

Individuals 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.

Units are surrendered in addition to cash payment when fuel or energy is purchased.

Tradable Energy Quotas

SURRENDER

Fuel wholesalers/ electricity

generators

Fuel/electricity retailers

Fuel extractors

£

MARKET

Organisations

PrimarydealersCitizens

40% Entitlement

60% Tender

ISSUE

UNITS FLOW THROUGH THE ENERGY CYCLE

COMMITTEE ON CLIMATE

CHANGE

QuotaCo REGISTRAR

CARBON

BUDGET

Tradable Energy Quotas

COMMITTEE ON CLIMATE

CHANGE

CARBON

BUDGET

THE CARBON BUDGET

1. Establishes the total quantity of TEQs units (rations) that may be issued2. Guarantee = long-term confidence3. Set by the Committee on Climate

Change……which frees up the Government to

focus on achieving the Budget

Tradable Energy Quotas

COMMITTEE ON CLIMATE

CHANGE

QuotaCo REGISTRAR

CARBON

BUDGET

Tradable Energy Quotas

40% Entitlement

60% Tender

ISSUE

COMMITTEE ON CLIMATE

CHANGE

QuotaCo REGISTRAR

CARBON

BUDGET

THE ISSUE OF UNITS

1. By equal Entitlement to all adults (40%)

2. 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 SYSTEMCarbon 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)

Tradable Energy Quotas

MARKET

Organisations

PrimarydealersCitizens

40% Entitlement

60% Tender

ISSUE

COMMITTEE ON CLIMATE

CHANGE

QuotaCo REGISTRAR

CARBON

BUDGET

THE MARKET FOR UNITS

Everyone has access to the same market.

The market price is set by the Tender.

Buying and selling as simple as Oyster or mobile phone credit

Tradable Energy Quotas

£

MARKET

Organisations

PrimarydealersCitizens

40% Entitlement

60% Tender

ISSUE

COMMITTEE ON CLIMATE

CHANGE

QuotaCo REGISTRAR

CARBON

BUDGET

Tradable Energy Quotas

£

MARKET

Organisations

PrimarydealersCitizens

40% Entitlement

60% Tender

ISSUE

UNITS FLOW THROUGH THE ENERGY CYCLE

COMMITTEE ON CLIMATE

CHANGE

QuotaCo REGISTRAR

CARBON

BUDGET

Tradable Energy Quotas

SURRENDER

Fuel wholesalers/ electricity

generators

Fuel/electricity retailers

Extractors/importers

£

MARKET

Organisations

PrimarydealersCitizens

40% Entitlement

60% Tender

ISSUE

UNITS FLOW THROUGH THE ENERGY CYCLE

COMMITTEE ON CLIMATE

CHANGE

QuotaCo REGISTRAR

CARBON

BUDGET

THE SURRENDER OF UNITS

1. Utility bills: direct debit (8 times a yr)2. Petrol: by card (20 times a yr)

3. The cash option

Embodied energy in other goods

A hands-free scheme

Tradable Energy Quotas

SURRENDER

Fuel wholesalers/ electricity

generators

Fuel/electricity retailers

Extractors /importers

£

MARKET

Organisations

PrimarydealersCitizens

40% Entitlement

60% Tender

ISSUE

UNITS FLOW THROUGH THE ENERGY CYCLE

COMMITTEE ON CLIMATE

CHANGE

QuotaCo REGISTRAR

CARBON

BUDGET

TEQS: THE KEY BENEFITS

TEQS: THE KEY BENEFITS

THE GUARANTEE

TEQS: THE KEY BENEFITS

TIME TO PLAN AHEAD

THE GUARANTEE

TEQS: THE KEY BENEFITS

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

TEQS: THE KEY BENEFITS

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

TEQS: THE KEY BENEFITS

AN ASSURED RATION

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

TEQS: THE KEY BENEFITS

SPECIFIED IN TERMS OF ENERGY

AN ASSURED RATION

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

TEQS: THE KEY BENEFITS

BOTH FOR FUEL SCARCITY AND CLIMATE

SPECIFIED IN TERMS OF ENERGY

AN ASSURED RATION

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

TEQS: THE KEY BENEFITS

HANDS-FREEBOTH FOR FUEL SCARCITY AND CLIMATE

SPECIFIED IN TERMS OF ENERGY

AN ASSURED RATION

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

TEQS: THE KEY BENEFITS

GOVERNMENT THERE TO HELP

HANDS-FREEBOTH FOR FUEL SCARCITY AND CLIMATE

SPECIFIED IN TERMS OF ENERGY

AN ASSURED RATION

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

TEQS: THE KEY BENEFITS

COMPETITIVE ADVANTAGE

GOVERNMENT THERE TO HELP

HANDS-FREEBOTH FOR FUEL SCARCITY AND CLIMATE

SPECIFIED IN TERMS OF ENERGY

AN ASSURED RATION

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

TEQS: THE KEY BENEFITS

MORAL LEADERSHIP

COMPETITIVE ADVANTAGE

GOVERNMENT THERE TO HELP

HANDS-FREEBOTH FOR FUEL SCARCITY AND CLIMATE

SPECIFIED IN TERMS OF ENERGY

AN ASSURED RATION

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

TEQS: THE KEY BENEFITS

COMMON PURPOSE

MORAL LEADERSHIP

COMPETITIVE ADVANTAGE

GOVERNMENT THERE TO HELP

HANDS-FREEBOTH FOR FUEL SCARCITY AND CLIMATE

SPECIFIED IN TERMS OF ENERGY

AN ASSURED RATION

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

TEQS: THE KEY BENEFITS

COMMON PURPOSE

MORAL LEADERSHIP

COMPETITIVE ADVANTAGE

GOVERNMENT THERE TO HELP

HANDS-FREEBOTH FOR FUEL SCARCITY AND CLIMATE

SPECIFIED IN TERMS OF ENERGY

AN ASSURED RATION

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

Carbon tax?

TEQS vs TAX

NO COMMON PURPOSE

NO MORAL LEADERSHIP

COMPETITIVE DISADVANTAGE

GOVERNMENT THERE TO PUNISH

HANDS-ONWHOLLY UNSUITED FOR FUEL SCARCITY

SPECIFIED IN TERMS OF MONEY

NO ASSURED RATION

REGRESSIVE

TAKES MONEY FROM THE USER

NO TIME TO PLAN AHEAD

NO GUARANTEE

An equitable, effective and efficient way of managing our country’s energy descent - guaranteeing

emissions reductions, empowering individuals and communities and ensuring fair access to fuel and

energy for all.

www.teqs.net

Dr. David Fleming, 1940-2010