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TEQs (Tradable Energy Quotas) What they are How they work Why we need them

TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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Page 1: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

TEQs(Tradable Energy Quotas)

What they are

How they work

Why we need them

Page 2: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 3: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

What are TEQs?

Tradable Energy Quotas arean electronic system for rationing

carbon-rated energy

for all energy users.at national level

,,

Page 4: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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.

Page 5: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 6: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

Tradable Energy Quotas

COMMITTEE ON CLIMATE

CHANGE

CARBON

BUDGET

Page 7: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 8: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

Tradable Energy Quotas

COMMITTEE ON CLIMATE

CHANGE

QuotaCo REGISTRAR

CARBON

BUDGET

Page 9: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

Tradable Energy Quotas

40% Entitlement

60% Tender

ISSUE

COMMITTEE ON CLIMATE

CHANGE

QuotaCo REGISTRAR

CARBON

BUDGET

Page 10: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 11: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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)

Page 12: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

Tradable Energy Quotas

MARKET

Organisations

PrimarydealersCitizens

40% Entitlement

60% Tender

ISSUE

COMMITTEE ON CLIMATE

CHANGE

QuotaCo REGISTRAR

CARBON

BUDGET

Page 13: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 14: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

Tradable Energy Quotas

£

MARKET

Organisations

PrimarydealersCitizens

40% Entitlement

60% Tender

ISSUE

COMMITTEE ON CLIMATE

CHANGE

QuotaCo REGISTRAR

CARBON

BUDGET

Page 15: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 16: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 17: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 18: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 19: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

TEQS: THE KEY BENEFITS

Page 20: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

TEQS: THE KEY BENEFITS

THE GUARANTEE

Page 21: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

TEQS: THE KEY BENEFITS

TIME TO PLAN AHEAD

THE GUARANTEE

Page 22: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

TEQS: THE KEY BENEFITS

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

Page 23: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

TEQS: THE KEY BENEFITS

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

Page 24: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

TEQS: THE KEY BENEFITS

AN ASSURED RATION

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

Page 25: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

TEQS: THE KEY BENEFITS

SPECIFIED IN TERMS OF ENERGY

AN ASSURED RATION

PROGRESSIVE

LEAVES MONEY WITH THE USER

TIME TO PLAN AHEAD

THE GUARANTEE

Page 26: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 27: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 28: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 29: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 30: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 31: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 32: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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?

Page 33: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 34: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

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

Page 35: TEQs (Tradable Energy Quotas) · (So renewables require almost no TEQs units) (No need for exhaust pipe measurements or carbon labelling) Tradable Energy Quotas MARKET Organisations

Dr. David Fleming, 1940-2010