BEIS18.04.18
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The document proposes three key proposals to facilitate rapid technical change in energy: equivalent firm power auctions, national system operators and regional system operators, and single licenses for network regulation. It argues these proposals will incentivize least-cost outcomes, storage and demand-side participation, secondary market development, competitive entry without picking winners or losers, integration of new technologies, and separation of system control from commercial activities. The proposals aim to minimize complexity and lobbying while facilitating decarbonization and technological solutions for energy systems.
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This document summarizes the perspectives and issues around UK energy policy according to an expert in three timeframes:
1) Short term - Issues include capacity, nuclear decisions like Hinkley Point, and the effects of Brexit. The system involves many interventions.
2) Medium term - Fossil fuel prices and climate policy will be key factors. Oil prices may return to normal levels from current lows. Electricity demand is expected to grow.
3) Long term - Technology changes will dominate, like digitalization, zero marginal cost electricity, and electric vehicles. The system will transition to one dominated by low carbon electricity and decentralized generation. Rethinking energy, climate and market policies is needed for this transformation.
Tcpa video 15.09.16
The document discusses the economic arguments for maintaining and enhancing the green belt around cities in the UK. It argues that natural capital, like the green belt, provides significant economic and health benefits by being located near populated areas. Maintaining the green belt is important for sustainable economic growth because neglecting natural capital would negatively impact the environment, public health, and biodiversity. While some argue building on the green belt is needed for housing and economic development, the document counters that brownfield sites and increasing density are better alternatives that do not require sacrificing natural areas. The green belt could also be improved by enhancing its environmental quality and public access to provide even greater economic returns to the population.
Big bca 15.09.16
Natural capital refers to the world's stocks of natural assets which include geology, soil, air, water and all living things. This document discusses how to integrate natural capital into business decisions and the economy. It argues that natural capital must be maintained like other capital assets to ensure long term sustainable economic growth. The challenges of the built environment are also addressed, as urbanization increases pressures on natural capital. The document calls for a 25 year natural capital plan to provide guidance on practical implementation and pioneering projects to help conserve natural capital while allowing development to occur.
Dclg 5.07.16
The document discusses the rationale for maintaining and enhancing the UK's Green Belt. It argues that the Green Belt provides natural capital benefits by being located near urban populations, including access to open spaces, improved air quality, health benefits, and biodiversity protection. While some argue building on the Green Belt is necessary for housing or won't significantly impact the environment, the response is that brownfield sites can provide housing, population growth projections are uncertain, and losing even small parts of the Green Belt could undermine the overall natural capital system. Rather than inhibiting economic growth, protecting natural capital is integral to sustainable long-term growth. Overall the Green Belt represents a major economic opportunity if revitalized for the 21st century with enhanced environmental standards and public
Bdew 8.6.16 f
This document discusses decarbonization and its consequences for energy markets in Germany and Europe. It outlines the scale of the challenge, including continued growth in carbon emissions and population. It also notes forecasts of increasing oil demand and coal use. The emerging energy context includes falling fossil fuel prices and new technologies like electric vehicles. Policy responses have focused on exiting coal, but targets set in Paris may not achieve the 2-degree warming limit. The EU 2030 framework establishes renewables targets but also recentralizes some energy policies. Overall decarbonization will be difficult to achieve at the necessary scale and speed given these complex technical and policy issues.
Castle 10.05.16
Dieter Helm gave a presentation on integrating the environment into economic policymaking. He discussed (1) treating the environment as a key economic asset rather than an add-on, (2) using natural capital accounting approaches to establish natural balance sheets and assess capital maintenance, and (3) outlining "weak" and "strong" aggregate natural capital rules to guide sustainable use of renewable and non-renewable resources. Helm then reviewed policy options and paths to practical implementation, including through catchment-level pilots, before concluding with next steps around the UK's 25-year environment plan and expanding natural capital accounting.
Kapsarc 29.03.16
The document discusses the end of vertically integrated utility companies due to major technical changes in the energy sector. It outlines how electricity is dominating other sources of energy production and how generation, storage, and demand are changing. This will require new company structures that are no longer vertically integrated monopolies. The document also notes there will be more disruption from technological breakthroughs in areas like solar, nuclear, and transmission technologies. It concludes that the 20th century model of large, vertically integrated utilities will struggle and there will be disaggregation and unbundling of assets as companies search for new cost-reflective structures.
Cpre 3.03.16
This document discusses the rationale for maintaining and enhancing the Green Belt around cities in the UK. It argues that natural capital, like the open spaces and woodlands provided by the Green Belt, needs to be located near population centers to provide multiple benefits. These benefits include improved air quality, health outcomes from access to leisure activities, and biodiversity protection. While some argue the Green Belt inhibits housing and economic growth, the document counters that brownfield sites and increased density can address housing needs, and that truly sustainable and resilient economic growth depends on maintaining natural capital. It concludes by envisioning how an enhanced Green Belt could better integrate access to green spaces and natural capital into urban living for current and future generations.
Flame 11.05.16
This document summarizes a presentation given by Professor Dieter Helm on the new energy world following the COP21 climate conference. It discusses how factors like the end of the commodity super cycle for oil and gas, the implementation of carbon constraints, and new technologies will impact key countries and energy companies. The presentation addresses how these changes may lead to a more electric-based future with higher standards for supply security and new players in the electricity sector like car companies and tech firms providing multiple sources of generation and storage.
Wec 24.01.17
This document discusses 3 major structural changes in global energy markets and their impacts. The changes are: 1) The end of the energy price super cycle as more oil comes online. 2) Slow progress on decarbonization efforts like the Kyoto and Paris agreements. 3) Rapid technological developments in areas like shale, renewables, energy storage, and electrification that are transforming the industry. The impacts discussed are falling oil prices pressuring North Sea production, decarbonization potentially closing the North Sea, and digitization changing electricity markets and challenging traditional business models.
Npf 18.01.17
This document outlines the key topics to be discussed regarding structural changes in global energy markets. The 3 big changes are: 1) The end of the energy super cycle of high oil prices. 2) Little progress on decarbonization despite Kyoto and Paris agreements. 3) Rapid technology changes like shale, renewables, energy storage, and more that are transforming energy generation and use. The geopolitical implications and impacts on companies and energy market designs will also be examined. Conclusions will address how decarbonization is unstoppable and technology will solve the carbon problem, transforming energy markets for 21st century companies.
Trinity 06.02.17
This document outlines an agenda to establish a framework for natural capital accounting and conservation. It discusses defining natural capital assets and different types. It also covers establishing thresholds and safe limits for ecosystems based on science. The document proposes aggregate natural capital rules to maintain or increase renewable natural capital. It discusses implementing natural capital accounts, identifying economic benefits of nature, and integrating these into national policies and budgets. Pioneering projects are proposed in specific areas, with an overall 25 year plan aiming to leave the environment in better condition than it was inherited.
Ip week 2017
This document discusses the challenges facing oil producers from declining oil prices in the long run due to factors like decarbonization and increasing renewable energy. It predicts that oil prices may gradually fall and stabilize around $50-60 per barrel. This will have economic consequences for major oil exporting countries as they become less reliant on oil revenues. National oil companies will need to transform and diversify their economies. International oil companies will also face challenges adapting to lower oil prices by increasing output or shifting operations. The future remains uncertain but many countries and companies will need to transition away from dependence on oil exports or production.
Plant sci 24.05.17
The document summarizes a plant science seminar at the University of Oxford on natural capital and sustainable economic growth. It discusses using an asset-based approach to view natural resources as capital that requires maintenance and enhancement. There are two proposed "natural capital rules" - keeping the stock of renewable resources constant and compensating for depletion of non-renewables. The document outlines accounting for natural capital assets, using economic rents from non-renewable depletion for investment in renewables, and funding major green infrastructure through taxes to support sustainable growth while maintaining natural capital.
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BEIS18.04.18
- 1. THE COST OF ENERGY REVIEW & TECHNICAL CHANGE DIETER HELM PROFESSOR OF ECONOMIC POLICY 18th April 2018
- 2. THREE KEY PROPOSALS AN INTEGRATED PACKAGE FOR RAPID TECHNICAL CHANGE • Equivalent Firm Power Auctions • NSO and RSOs • Single licences and new approach to network regulation
- 3. EFP AUCTIONS • Incentivise least cost outcomes • Incentivise storage and demand-side joint-bidding with intermittent generation • Incentivise secondary markets to develop as deep, liquid and transparent AND DOES NOT PICK WINNERS/LOSERS
- 4. NSO AND RSOs • Resolves actual and perceived conflicts of interest to incentivise competitive entry • Opens up networks to new generation, storage and demand-side alternatives and complementary investments • Encourages electric transport innovations AND DOES NOT PICK WINNERS/LOSERS
- 5. SINGLE LICENCES • Breaks down the DNO silos • Facilitates new technologies in decentralised energy systems • Solves the misplacing of smart meters • Allows entry from other sectors, retail, communications, cars etc. AND DOES NOT PICK WINNERS/LOSERS
- 6. THE COST OF ENERGY REVIEW • Creates the maximum competition consistent with CCA and security of supply objectives • Minimises complexity • Minimises lobbying by vested interests and capture • Separates system control from commercial activities • Facilities decarbonisation of energy systems • Integrated intermittency and incentivises technological solutions • Separates out R&D, which needs direct government support RECOMMENDATIONS