REA Response to HM Treasury Reforming the Business Energy Efficiency Tax Landscape
|
|
- Ami Lindsay Cobb
- 8 years ago
- Views:
Transcription
1 REA Response to HM Treasury Reforming the Business Energy Efficiency Tax Landscape The Renewable Energy Association (REA) is pleased to submit this response to the above inquiry. The REA represents a wide variety of organisations, including generators, project developers, fuel and power suppliers, investors, equipment producers and service providers. Members range in size from major multinationals to sole traders. There are around 750 corporate members of the REA, making it the largest renewable energy trade association in the UK and the only body to cover all forms of energy. It should therefore be noted that our member s primary interest in this consultation is to do with how reforms to the Business Tax Landscape could help incentivise the deployment of renewable technologies. Consultation Response 1. Do you agree with the principle of moving away from the current system of overlapping policies towards a system where a single business/organisation faces one tax and one reporting scheme? Please provide evidence on level and types of benefits of an approach like this. We appreciate that this is a high level consultation, gathering initial thoughts and ideas. However, it is worth stating from the start that such streamlining of policies must be done carefully to ensure that it does not constitute a watering down of the requirements, or incentives, which have driven businesses to become more engaged with their energy consumption to date. If reporting mechanisms, or tax requirements, are significantly weakened as a result of this consolidation it is likely businesses will fail to engage effectively and will view the tax as just another administrative cost, rather than an impetus for action. Similarly, whichever proposals are brought forward as a result of this consultation, they must be backed by clear long term and broad political support. The sudden scrapping of renewables exemption from the Climate Change Levy, and the unexpected exclusion of community energy schemes from the enterprise tax relief mechanisms (EIS, SEIS and SITR) has greatly damaged investor confidence. In some cases the scrapping of these policies have caused developers to completely abandon viable projects and has discouraged them to invest in further low carbon energy and energy efficiency measures. Organisations will be understandably cautious of any new tax mechanism and must be appropriately reassured that the government is committed to its long term implementation. Furthermore, as is recognised within the consultation paper, more must be done to encourage energy saving beyond just the power sector. Emerging technologies such as renewable heat, renewable transport fuels and green gas should also be encouraged through tax incentives and business reporting requirements, recognising their potential to deliver energy and carbon savings. In order to do this in a cost effective manner, we encourage Treasury to focus on what low carbon tax incentives could also be built into the existing business tax environment. Tax incentives like Enhanced Capital Allowances and relief from Business Rates are easily 25 Eccleston Place Tel: Victoria, London SW1 9NF
2 understood by finance managers and could provide a fertile opportunity for encouraging engagement in energy efficiency and onsite renewables while not acting as a direct subsidy. We provide further details on what could potentially be achieved in this area later on within our consultation response. With the above in mind, it is worth noting that an optimum tax and reporting regime will require businesses to actively engage with their greenhouse gas emissions through effective monitoring, while also providing a strong price signal to encourage them to use cleaner energy sources and become more energy efficient. It is fair to say that the myriad of existing energy taxes and reporting requirements which include the Climate Change Levy (CCL), Climate Change Agreements (CCA), The Energy Savings Opportunity Savings Scheme (ESOS) and the Carbon Reduction Commitment (CRC), amongst others, have created significant confusion. While they have had many positive impacts they have also arguably focused much of the business community s attention on compliance rather than a proactive engagement with renewable energy generation or the adoption of energy efficiency measures. Therefore, overall we agree that, if done correctly, a single tax scheme and reporting mechanism could give businesses greater transparency on the level and costs of their energy use which should drive engagement and investment in developing low carbon industries. 2. Do you agree that mandatory reporting should remain as an important element of the landscape in driving the uptake of low carbon and energy efficiency measures? If not, why not? 3. Should such reports require board level sign-off and should reported data be made publicly available? Please give your reasons. 4. Do you agree that government should develop a single reporting scheme requiring all ESOS participants (and potentially the public sector (see paragraphs ) to report regularly at board level? If so, what data should be included in such a report? 5. The government recognises the importance of ensuring market actors have access to transparent, reliable and comparable information to support financing and investment in energy efficiency and low carbon measures. How best can a streamlined report achieve this? To what extent does your response apply to other large companies (as defined in the Companies Act) that are not listed companies? Mandatory reporting remains an effective method for ensuring business engagement and maintaining a focus on energy efficient practices. Although policies such as ESOS and CRC have been criticised for their complexity and have had inconsistent impacts across market participants, they have ensured energy efficiency and carbon reduction remain firmly on boardroom agendas, especially in Energy Intensive Industries. This means that energy consumption and efficiency has been considered alongside longer term business planning and investment strategies. Similarly, transparency and public access to a business s performance helps to drive competition between market participants. Public access ensures companies are conscious of public examination and are aware of the damage that could be done to their brand if they are seen to be under performing. It is hoped that a more uniform reporting mechanism will help make information easier to access, more transparent, and Page 2 of 8
3 easier to compare for both the public and other market participants, as well as make best case practices more evident for others to follow. 6. Do you agree that moving to a single tax would simplify the tax system for business? Should we abolish the CRC and move towards a new tax based on the CCL? Please give reasons. 7. How should a single tax be designed to improve its effectiveness in incentivising energy efficiency and carbon reduction? 8. Should all participants pay the same rates (before any incentives/reliefs are applied) or should the rates vary across different businesses? For example, do you think that smaller consumers and at risk Energy Intensive Industries (EIIs) should pay lower rates? We support the move to a more streamlined taxation mechanism that is similar to that of the Climate Change Levy, as was in operation before the removal of Levy Exemption Certificates (LECs) for renewable generation. We agree that the removal of the CRC would reduce the administrative burden, as well as improve the cash flow arrangements of businesses that will no longer be required to make an annual one-off payment to meet their CRC obligation. Rather the CCL allows for the charge to be placed on the energy suppliers who already have the systems and processes in place to charge the tax through energy bills and the trading desks to allow for the effective facilitation of a trading market on exemption certificates. A key benefit of the CCL model has been the ability to leverage tax relief mechanisms through a trading market. Businesses sought out renewable suppliers in order to be exempt from the CCL tax. This helped drive demand for renewable sourced energy. To meet this demand suppliers had to prove their supply was renewable through the purchasing of LECs, which was agreed with the renewable generator within their Power Purchase Agreement (PPA). Therefore the CCL exemptions benefited business consumers while also creating an important revenue stream for renewable generation, without being a direct subsidy, encouraging investor confidence and investment in new projects. This also translated into some businesses investing in their own onsite renewable projects, recognising the benefits of increasing energy efficiency and meeting their own onsite demand. This market mechanism did not operate under the CRC which effectively encouraged emission reduction without directly increasing demand for renewables. However, the recent exclusion of LECs for renewable generation has meant this market mechanism has been undermined and made the CCL a generic tax on all energy usage. In order to encourage low carbon generation, any future tax which is based around the CCL model, must take full advantage of its potential for facilitating growth in the low carbon economy through the trading of exemption certificates. This includes exemptions being expanded across all energy sectors, including heat, transport and power, so that all renewable technologies can be driven forward. For example, there is a strong case for the extension of LECs to support the growth of the anaerobic digestion (AD) biomethane to grid industry. Once an AD facility injects renewable gas into the grid it is currently undistinguished from conventional fossil gas supplies. As such biomethane, despite its green credentials, has never been definitively exempt from CCL charges. As the industry is currently in its infancy, there is a strong case for allowing LECs to be applied to biomethane production in order to incentivise investment and encourage industry growth. If such a system were introduced there would be an additional 0.193p/kWh value (current CCL charge on gas in 2015/2016) to share between the biomethane injector, supplier and consumer. This is an approximate additional benefit Page 3 of 8
4 of 100k to the 30+ biomethane gas schemes anticipated to be in operation in It also has the potential to bring additional benefits to local councils by creating demand for biowaste, reducing the amount being sent to landfill. With industry projections of around 2TWh of gas injection to grid in 2015, this equates to a modest annual cost to the exchequer of 3.86 million for the development of this reliable and low carbon energy source. Furthermore the costs of introducing such a scheme are expected to be low with the industry already having paid for the development of the Green Gas Certification Scheme 1 (GGCS), which could form the foundation of the exemption criteria. If similar models could be expanded to all emerging low carbon technologies it would greatly help to decarbonise the energy we consume, while also significantly help improve the energy security in the UK. 9. Do we currently have the right balance between gas and electricity tax rates? What are the implications of rebalancing the tax rate ratio between electricity and gas? What is the right ratio between gas and electricity rates? There is a need to re-evaluate the price differential between gas and electricity. A less piece meal approach to carbon pricing, with a more uniform application of the carbon price across sectors, could reduce barriers to entry for some emerging technologies. For example, Biomass can currently be more expensive than mains or LPG gas, creating a market where it is more cost effective to use a fossil fuel rather than produce renewable heat. However, it is recognised that this is a longer term solution that will require a considerable amount of further research, as has been performed by organisations such as the Carbon Trust, and development to ensure all low carbon technologies are able to benefit. 10. Do you believe that the CCA scheme (or any new scheme giving a discount on the CCL or on any new tax based on the model of the CCL) eligibility should only focus on industries needing protection from competitive disadvantage? If so, how should government determine which sectors are in need of protection? 11. Do you believe that the CCA scheme (or new scheme) eligibility should focus only on providing protection to those EIIs exposed to international competition and at risk of carbon leakage? If so, how should the government assess which CCA sectors are at risk of carbon leakage? 12. Do you believe that the targets set by the current CCA scheme are effective at incentivising energy efficiency? Do you believe that the current CCA scheme is at least as effective, or more effective, at incentivising energy efficiency than if participants paid the full current rates of CCL? How could CCAs be improved? Are there alternative mechanisms that may be more effective? We do not have sufficient experience of the CCA scheme in order to comment on this area of the consultation. However we recognise the benefits to the economy that are made by protecting Energy Intensive Industries from particularly high taxes to ensure they remain internationally competitive. 13. Do you believe that incentives could help drive additional investment in energy efficiency and carbon reduction? Please explain your reasons. 14. What is the best mechanism to deliver incentives for investment in energy efficiency and carbon reduction (e.g. tax reliefs, supplier obligations, grants, funding based on 1 For more information on the Green Gas Certification Scheme visit Page 4 of 8
5 competitive bidding)? Are different approaches needed for different types of business? If so, which approaches work for which business types? What approaches should be avoided? Since the election in May 2015 the government have made significant energy policy interventions that have dramatically cut subsidy and regulatory support for low carbon energy and energy efficiency measures. This overhaul of energy policy has been done with such speed and severity that it has greatly undermined energy sector investor confidence in the UK. It is feared that this will also leave a lasting legacy of mistrust in future strategies, as policy risk becomes a major barrier to investor engagement and will increase the cost of capital. DECC and HM Treasury must now act quickly, setting out a new long term, stable and consistent national energy policy in order to mitigate these impacts and ensure the continued growth of the low carbon and energy efficiency industries. With this in mind, and recognising that value for money remains the key consideration, we propose the following tax support incentives which lie outside of the Levy Control Framework. They are built around the broader business tax environment and are mechanisms which are well understood by finance managers. It is hoped that some of these ideas could be implemented in order to create a good business case for engagement in the low carbon and energy efficiency industries, if further direct subsidies are no longer to be an option for some technologies. Enhanced Capital Allowances (ECA) and Tax Relief The proposed cuts to the Feed-in Tariff following DECC s Review in October 2015 has left developers fearing the introduction of unrealistically low tariffs, a rapid degression mechanism and very low deployment caps. Within the REA s response to the FiT review 2 we recognised that as grid parity approaches, and tariffs become no more than a couple of pence, the FiT may no longer be the most appropriate form of support for commercial scale solar energy projects. However, if this is to be the case, then it is appropriate that the focus is moved away from subsidies to tax incentives, in order to ensure investors continue to be able to get an adequate return on their investment. If successful, such mechanisms could be a model for other technologies as their costs also fall to a level that could make them subsidy free in the future. As such, we suggest Treasury re-visits the potential for providing support through Enhance Capital Allowances (ECAs) and tax relief through the different forms of the Enterprise Investment Scheme (EIS). Furthermore, a more general Corporation Tax relief, for those installing renewable technologies may also constitute a simple incentive to encourage investment within the low carbon industries. While some renewable technologies already benefit from ECAs, it may now be appropriate to extend these benefits to technologies that had previously been excluded due to receiving subsidies elsewhere. As such there is particular potential for supporting commercial solar and new energy storage, amongst other renewable technologies, if they are no longer going to benefit from direct revenue support through the FiTs. This could apply to new generation projects and has the advantage of providing a one-off upfront benefit rather than an ongoing liability for Government over years. Similarly, the cost of such support would also automatically reduce in real terms as system prices continue to fall; reducing the risk of overcompensation in the future. Initial modelling by KPMG, done in advance of our FiT Review response, indicates a benefit of 1.3p/kWh for commercial solar rooftop projects and around 0.6p/kWh for ground-mounted solar when considered over an 2 The REA s Response to the DECC FiT Review is available here: Page 5 of 8
6 equivalent 20 year period (The modelling behind these calculations is available on request). If extended in their current form, ECA s would at least provide an attractive headline for investors and developers, bringing the tax relief on their asset purchase forward to their first year. It is however noted that ECA s would have an even greater impact if their value could be higher than the related renewable technology asset purchase cost (e.g. 150% of its cost) as has happened with allowances in the past. This would provide a valuable incentive to both developers and investors in the absence of direct subsidy. Similarly, EIS relief has the potential to help facilitate investments in all emerging renewable technologies and operates well within straight forward PPA business models. Investors will be able to see how their returns could be enhanced beyond the sale of a project s generation. If the FiT or similar revenue type incentives are no longer available, as is being unfavourably signalled by recent policy proposals, then fears of double subsides should no longer be considered applicable and there are reasonable grounds for providing support through enterprise tax relief mechanisms. The recent amendment to the Finance Bill, to exclude community projects from the Enterprise Investment Scheme, Social Enterprise Investment Scheme and the future Social Investment Tax Relief mechanism has been another serious blow to investor confidence, as well as serving to highlight the potential instability of future policies. This tax relief provided a valuable opportunity to offer investors the potential for high returns despite the risky nature of community schemes in comparison with purely commercial projects. It is our understanding that community projects that operate subsidy-free will still be able to benefit from EIS or SITR support. However this needs to be made clearer within the legislation guidance and expanded to all commercial projects investing in emerging technologies. The REA would also support the government in tightening rules in order to bring any misuse of these schemes to an end to promote value for money, which would be more effective than a blanket withdrawal of support. A further form of enterprise based support could also be achieved through the promotion and extension of the Enterprise Finance Guarantee Scheme for low carbon projects. Here the government underwrites a proportion of bank loans to qualifying businesses which would normally lack adequate security. This would greatly increase investor confidence and stimulate banks into lending to fund renewable projects. In a market with less direct subsidy support we believe ECAs and tax relief through EIS or corporation tax could provide a cost effective alternative for encouraging commercial investment in onsite renewable and energy efficient technologies. Furthermore, they have the potential to have the costs offset by driving commercial deployment of renewable technologies, which in turn results in business development and job creation, which will deliver further opportunities for collecting tax revenue. Local authorities have the potential to develop regional Investment through planning policy and using newly devolved powers to provide tax relief to businesses actively lowering emissions. There is also significant potential for local authorities to now drive carbon savings and encourage investment in the low carbon economy at the regional level. Page 6 of 8
7 Firstly, the Merton Rule should be expanded across the country. More councils should be incentivised to use this rule, which allows them to set more stringent sustainability standards for new developments. The further use of this could drive take up of on-site renewables, which is especially important in the light of the changes to the Zero Carbon Homes policy, which has been delayed. Competition between local authorities in driving down emissions should also help reduce costs as best practices are highlighted on a national scale. Secondly, local authorities may also consider, and could be encouraged, to provide Business Rate relief for companies taking advantage of on-site renewables or energy efficiency measures. Now that the mechanism has been devolved to local councils, the Valuation Office (VO) potentially need not be involved, as a discount to the VO s rates could be applied at the time of charge by the local authorities. Alternatively, similar tax relief on business rates could be applied to developers and generators building standalone renewable projects, rather than businesses operating renewables on-site as part of their operations. Such incentives could further benefit local authorities as the development of small power generators or district heat networks will all contribute to the councils own low climate change targets. Such tax relief could also be extended to the council tax for domestic properties. Local authorities could apply a discount to council tax rates for households that are registered on Ofgem s database for properties with renewables installed or who have had energy efficiency measures installed. The discount could be sized and applied over a differing number of years per technology or installation size as appropriate following consultation. This would further encourage deployment of either onsite generation or renewable heat across the domestic sector. It is however recognised that, at this time, local authorities are particularly restricted by budgetary constraints, and it may not be easy for them to apply reliefs to business rates or council tax. The REA are currently working with the Association for Public Service Excellence (APSE), an organisation which helps local authorities manage energy, in order to discuss what may be realistic models for encouraging low carbon development within local authorities, whether through regulation or tax incentives. Incentivising projects that provide grid balancing benefits. Renewable projects which reduce balancing system costs by solving intermittency problems could also be incentivised by ensuring that these grid benefits are appropriately compensated. Two models are suggested here. Firstly, hybrid renewable projects which build in energy storage technologies could feed into the grid during periods of high demand, while storing excess energy generation in periods of low demand. Secondly, hybrid renewable projects which allow for dispatchable base load generation, for example a project that Involves AD generation or combines solar and wind projects on one grid connection in order to mitigate variable supply profiles. Both these models could drive the deployment of energy storage or more innovative connection agreements while reducing the balancing costs associated with variable renewable output. Page 7 of 8
8 Incentivising energy efficiency and renewable heat through tax relief on property tax regimes A final form of tax relief to encourage installation of energy efficiency and renewable heat solutions could be achieved by adjusting property purchase taxes based on the Energy Performance Certificate ratings, as well as providing some form of rebate for energy efficiency improvements made shortly after the purchase have been instigated. Such a relief would encourage the installation of energy efficiency measures and renewable heat sources as properties are sold and brought in the market, helping to improve the energy efficiency of the housing stock of in the UK. 15 What impact would moving to a single tax have on the public sector and charities? 16 How should the merged tax be designed to improve its effectiveness in driving energy and carbon savings from the public sector and charities? 17 Should a new reporting framework also require reporting by the public sector? We have insufficient experience of public sector energy efficiency mechanisms with which to answer this question, but note the large contribution such organisations could make to reducing emissions and deploying low carbon technologies. 9 th November 2015 Page 8 of 8
HMT Consultation Reforming the business energy efficiency tax landscape: Response from the Energy Intensive Users Group
HMT Consultation Reforming the business energy efficiency tax landscape: Response from the Energy Intensive Users Group General comments The Energy Intensive Users Group (EIUG) represents manufacturing
More informationREFORMING THE BUSINESS ENERGY EFFICIENCY TAX LANDSCAPE BRIEFING
REFORMING THE BUSINESS ENERGY EFFICIENCY TAX LANDSCAPE BRIEFING CARBON ENERGY REPORTING SOFTWARE Carbon Footprints Environment Compliance Buildings Process Transport Renewables Web Reports Validation Measurement
More information1.2 The CIOT s Environmental Taxes Working Group has previously commented on the principles of environmental taxes.
Reforming the business energy efficiency tax landscape HM Treasury consultation document September 2015 Response by the Chartered Institute of Taxation 1 Introduction 1.1 The Chartered Institute of Taxation
More informationReforming the business energy efficiency tax landscape
Reforming the business energy efficiency tax landscape September 2015 Reforming the business energy efficiency tax landscape September 2015 Crown copyright 2015 This publication is licensed under the
More informationReforming the business energy efficiency tax landscape
Reforming the business energy efficiency tax landscape Consultation response from: Emission Trading Group (ETG) Contact details: John Craven, john.craven@etg.uk.com ETG welcomes this review of the business
More informationConsultation response: Reforming the business energy efficiency tax landscape. Policy paper
Consultation response: Reforming the business energy efficiency tax landscape Samuela Bassi, Chris Duffy, Sam Fankhauser, Bob Ward, Dimitri Zenghelis, Policy paper November 2015 ESRC Centre for Climate
More informationThe Future of Renewables. Stuart Pocock Chief Operating Officer
The Future of Renewables Stuart Pocock Chief Operating Officer Who we are The REA was established in 2001 as a not-for-profit trade association, representing British renewable energy producers and promoting
More informationReforming the Business Energy Efficiency Tax Landscape
Reforming the Business Energy Efficiency Tax Landscape IEMA response to HMT / DECC consultation 9 th November 2015 The Institute of Environmental Management & Assessment (IEMA) is the professional home
More informationUK Government proposals on energy tax changes
Main Tel: 01685 725000 Civic Centre, Castle Street, Merthyr Tydfil CF47 8AN www.merthyr.gov.uk CABINET - INFORMATION REPORT Date Written 21 October 2015 Report Author Mick Campbell Service Area Neighbourhood
More informationUK renewable energy an update
UK renewable energy an update 30 October 2014 Robert Hull, Managing Director Renewable energy key challenges 1 2 3 Costs to Climate change: Risks to security consumers: decarbonising of supply: short affordability
More informationConsultation: CFD Implementation in NI Strategic Issues Discussion Paper Date: 08/05/15 Contact: Andy McClenaghan Our reference number: 2259 PD20010
Consultation: CFD Implementation in NI Strategic Issues Discussion Paper Date: 08/05/15 Contact: Andy McClenaghan Our reference number: 2259 PD20010 Introduction The Consumer Council welcomes the opportunity
More informationWind and solar reducing consumer bills An investigation into the Merit Order Effect
Switch for Good Wind and solar reducing consumer bills An investigation into the Merit Order Effect Executive summary Concerns over the cost of renewable subsidy schemes have led to significant policy
More informationHM Treasury consultation: reforming the business energy efficiency tax landscape - Energy Institute response
HM Treasury consultation: reforming the business energy efficiency tax landscape - Energy Institute response The Energy Institute (EI) welcomes the opportunity to make the following submission to HM Treasury
More information4. Comparison with DECC (2014) Estimated impacts of energy and climate change policies on energy prices and bills
Energy prices and bills - supplementary tables Contents: 1. Energy prices and bills 2. Assumptions 3. Scenarios to 2030 4. Comparison with DECC (2014) Estimated impacts of energy and climate change policies
More informationThe Levy Control Framework
Report by the Comptroller and Auditor General Department of Energy & Climate Change The Levy Control Framework HC 815 SESSION 2013-14 27 NOVEMBER 2013 4 Key facts The Levy Control Framework Key facts 2bn
More informationFeed in Tariffs for Microgeneration. Jos Mister Energy Saving Trust
Feed in Tariffs for Microgeneration Jos Mister Energy Saving Trust Funding and Finance Feed in Tariffs Clean Energy Cashback April 2010 Renewable Heat Incentive April 2011 Business support Enhanced Capital
More informationThe Case for Renewables in UK Business
The Case for Renewables in UK Business New incentives, energy market trends and building regulations have transformed the returns available to UK businesses from generating their own renewable energy Between
More informationResponse to the Energy White Paper Issues Paper PREPARED BY EMC ENGINEERING FOR THE AUSTRALIAN GOVERNMENT DEPARTMENT OF INDUSTRY
Response to the Energy White Paper Issues Paper PREPARED BY EMC ENGINEERING FOR THE AUSTRALIAN GOVERNMENT DEPARTMENT OF INDUSTRY i P a g e www.energym adeclean.com CONTENTS
More informationAnnex B: Strike price methodology July 2013
July 2013 URN 13D/189 Contents Introduction... 3 Overview of methodology for deriving a CfD strike price... 3 Strike Prices during the cross-over period with the RO (2014/15 2016/17)... 4 Comparison of
More informationOverview of UK Carbon Pricing Policies
Partnership for Market Readiness PA11 Overview of UK Carbon Pricing Policies Paul van Heyningen, Department of Energy & Climate Change 10 March 2015 UK approach to emissions reduction Set legally binding
More informationUK Indirect Tax Conference 2015 Environmental taxes
UK Indirect Tax Conference 2015 Environmental taxes Matt Parkes Zoe Hawes Prem Mehta 11 November 2015 Agenda Why does effective management of environmental taxes matter? Policy updates News and developments:
More informationWholesale costs make up the largest proportion of your electricity and gas bills, currently between a half and two thirds for electricity and a
Wholesale costs make up the largest proportion of your electricity and gas bills, currently between a half and two thirds for electricity and a little higher for gas. Smaller businesses are likely to face
More informationBespoke Gas CHP Policy
Bespoke Gas CHP Policy Summary of Analysis Results & Conclusions December 2014 Crown copyright 2014 URN 14D/469 You may re-use this information (not including logos) free of charge in any format or medium,
More informationSummary: Intervention & Options
Summary: Intervention & Options Department /Agency: DECC Title: Impact Assessment of Feed-in Tariffs for Small-Scale, Low Carbon, Electricity Generation (URN10D/536) Stage: Final Version: Final Date: 01
More informationThe BSA - Business Services Association. Simplifying the CRC Energy Efficiency Scheme
The BSA - Business Services Association Simplifying the CRC Energy Efficiency Scheme Introduction 1. The BSA The Business Services Association represents service providers, and their advisors, delivering
More informationSuccess story: Feed-In Tariffs Support renewable energy in Germany
Success story: Feed-In Tariffs Support renewable energy in Germany This document will show how this success story has been brought about and is made up of the following sections: 1. What is a Feed-In Tariff?
More informationWestern Australian Feed-In Tariff Discussion Paper
Western Australian Feed-In Tariff Discussion Paper OVERVIEW In September 2008, the incoming State Government announced its intention to introduce a feed-in tariff as part of the Liberal Plan for Environmental
More informationCost of Efficiency - Solar PV and Energy Efficient Homes. Stuart Pocock Chief Operating Officer & Head of UK Solar
Cost of Efficiency - Solar PV and Energy Efficient Homes Stuart Pocock Chief Operating Officer & Head of UK Solar Who we are The REA was established in 2001 as a not-for-profit trade association, representing
More informationInvesting in renewable technologies CfD contract terms and strike prices
Investing in renewable technologies CfD contract terms and strike prices December 2013 Crown copyright 2013 You may re-use this information (not including logos) free of charge in any format or medium,
More informationEI Data Service useful information: DSI20 UK & EU energy initiatives & legislation factsheet
EI Data Service useful information: DSI20 UK & EU energy initiatives & legislation factsheet Updated September 2012 Consumer Initiatives I Business Initiatives I UK legislation I EU legislation & initiatives
More informationDisclaimer: All costs contained within this report are indicative and based on latest market information. 16 th March 2015
Disclaimer: All costs contained within this report are indicative and based on latest market information 16 th March 2015 FD SUMMARY The make up of the electricity bill is changing, with non-commodity
More informationRegulatory Briefing. Capital Markets Day. 17 October 2013
Regulatory Briefing Capital Markets Day 17 October 2013 Agenda Andrew Koss Director of Strategy Damien Speight Head Trader Renewables Obligation Contracts for Difference Levy Control Framework Capacity
More informationDecarbonising electricity generation. Policy paper
Decarbonising electricity generation Samuela Bassi, Chris Duffy and James Rydge Policy paper April 2013 Centre for Climate Change Economics and Policy Grantham Research Institute on Climate Change and
More informationImpact Assessment (IA)
Title: Renewables Obligation Transition IA No: DECC0086 Lead department or agency: Department of Energy and Climate Change Other departments or agencies: Summary: Intervention and Options Total Net Present
More informationElectricity Market Reform:
Electricity Market Reform: Consultation on Low Carbon Contracts Company s and Electricity Settlements Company s operational costs 2015/16 Government Response January 2015 Crown copyright 2015 URN 15D/001
More informationIn our member surveys, the following themes are repeatedly mentioned as concerns:
The Rt Hon George Osborne MP Chancellor of the Exchequer HM Treasury 1 Horse Guards Road London SW1A 2HQ 22 November 2013 Growth and Britain's Number One Manufacturing Exporter From the Chief Executive
More informationEnvironment and energy briefing from Burges Salmon published in the March 2014 issue of The In-House Lawyer:
Environment and energy briefing from Burges Salmon published in the March 2014 issue of The In-House Lawyer: Electricity market reform: an update on contracts for difference Electricity market reform:
More informationUK legislative framework for renewable energy
UK legislative framework for renewable energy 2015 Update Dominic FitzPatrick Partner, Head of Energy (UK) Last year s article for Clean Energy UK Finance Guide 2014 set out a comprehensive review of the
More informationMaking CfDs work for renewable generators
Making CfDs work for renewable generators This is in two parts. 1 st a brief introduction to the Green Power Auction Market. 2 nd gives more detail on the structure and follows on. We consider this a critical
More informationEstimated impacts of energy and climate change policies on energy prices and bills
Estimated impacts of energy and climate change on energy prices and bills July 2010 Estimated impacts of energy and climate change on energy prices and bills 2 Estimated impacts of energy and climate change
More informationThis seeks to define Contracts for Difference (CfDs) and their relevance to energy related development in Copeland.
Contracts for Difference and Electricity Market Reform LEAD OFFICER: REPORT AUTHOR: John Groves Denice Gallen Summary and Recommendation: This seeks to define Contracts for Difference (CfDs) and their
More informationCOMMISSION STAFF WORKING PAPER EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT. Accompanying the document
EUROPEAN COMMISSION Brussels, 22.6.2011 SEC(2011) 780 final COMMISSION STAFF WORKING PAPER EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT Accompanying the document DIRECTIVE OF THE EUROPEAN PARLIAMENT AND
More informationsustainable gains in energy policy. While the report addresses energy policies comprehensively, the following sections highlight these three topics.
EXECUTIVE SUMMARY 01 A small, somewhat isolated country, Finland takes a balanced view of its energy policy, taking advantage of its situation wherever possible. Where it can leverage its location and
More informationPort Jackson Partners
Port Jackson Partners NOT JUST A CARBON HIT ON ELECTRICITY PRICES Many factors will drive a doubling of electricity prices in many states by 15. This will have a major impact on virtually all businesses.
More informationSmall-scale electricity generation is expected to play an important role in helping meet the target.
The UK has a challenging EU target to meet 15% of energy demand from renewables by 2020. Official projections suggest around 30% of our electricity must be from renewables by that year if this target is
More informationTHE UK CLIMATE CHANGE PROGRAMME AND EXAMPLES OF BEST PRACTICE. Gabrielle Edwards United Kingdom
Workshop on Best Practices in Policies and Measures, 11 13 April 2000, Copenhagen THE UK CLIMATE CHANGE PROGRAMME AND EXAMPLES OF BEST PRACTICE Gabrielle Edwards United Kingdom Abstract: The UK published
More informationPage 1 of 11. F u t u r e M e l b o u r n e C o m m i t t e e Agenda Item 7.1. Notice of Motion: Cr Wood, Renewable Energy Target 9 September 2014
Page 1 of 11 F u t u r e M e l b o u r n e C o m m i t t e e Agenda Item 7.1 Notice of Motion: Cr Wood, Renewable Energy Target 9 September 2014 Motion 1. That Council resolves that the Chair of the Environment
More informationELECTRICITY MARKET REFORM SHAPING THE FUTURE GB POWER MARKET
ELECTRICITY MARKET REFORM SHAPING THE FUTURE GB POWER MARKET A Pöyry briefing note Electricity Market Reform (EMR) proposals, intended to deliver the transition to a decarbonised electricity sector, have
More informationCapacity Building in the New Member States and Accession Countries on Further Climate Change Action Post-2012
Capacity Building in the New Member States and Accession Countries on Further Climate Change Action Post-2012 (Service Contract N o 070402/2004/395810/MAR/C2) 29 November 2007 Almost all New Members States
More informationA sustainable energy and climate policy for the environment, competitiveness and long-term stability
2009-02-05 A sustainable energy and climate policy for the environment, competitiveness and long-term stability The party leaders of Alliance for Sweden entered into an agreement today on a long-term,
More informationEnergy Policy & Regulation Briefing Note
Creating a sporting habit for life UK Energy Policy and Regulation and what it means for the sports and leisure sector Introduction We have got used to the fact that energy costs will continue to increase.
More informationESB Input to consultation by the Northern Ireland Authority for Utility Regulation (NIAUR) on the NI Energy Efficiency Levy
Alison Farr Social and Environmental Branch Utility Regulator Queens House Queen Street Belfast BT1 6ER 24 November 2008 ESB Input to consultation by the Northern Ireland Authority for Utility Regulation
More informationRenewable energy sources penetration in most of BSEC countries
Renewable energy sources penetration in most of BSEC countries Prof. Dimitrios MAVRAKIS Director Energy Policy and Development Centre (KEPA) National and Kapodistrian University of Athens Energy Policy
More informationAnnex 1 Tool for the demonstration and assessment of additionality
page 1 Tool for the demonstration and assessment of additionality 1. This document provides for a step-wise approach to demonstrate and assess additionality. These steps include: Identification of alternatives
More informationFuel cell microchp: Greener and cheaper energy for all
Fuel cell microchp: Greener and cheaper energy for all Paddy Thompson General Manager Business Development Ceramic Fuel Cells Ltd. May 2013 1 What does our generation mix look like today? 2 Will the lights
More informationBrief Summary from GHG Protocol Workshop on Accounting for Green Power Purchases January 24, 2010 London, U.K.
Brief Summary from GHG Protocol Workshop on Accounting for Green Power Purchases January 24, 2010 London, U.K. Overall Themes We need to begin with a vision of the electricity accounting system we want
More informationContracts for Difference - the new support regime for low carbon generation
Contracts for Difference - the new support regime for low carbon generation James Taylor Raj Bavishi 11 November 2014 UK Incentive Regimes Small scale Feed in Tariffs and the Renewables Obligations have
More informationThe UK Electricity Market Reform and the Capacity Market
The UK Electricity Market Reform and the Capacity Market Neil Bush, Head Energy Economist University Paris-Dauphine Tuesday 16 th April, 2013 Overview 1 Rationale for Electricity Market Reform 2 Why have
More informationConsultation on changes to Feed-in Tariff accreditation
Consultation on changes to Feed-in Tariff accreditation Removing preliminary accreditation from the Feedin Tariff 21 July 2015 Department of Energy and Climate Change 3 Whitehall Place London SW1A 2AW
More informationWhite Certificates Trading, Green Certificates Trading, Emission Trading Which One to Choose?
White Certificates Trading, Green Certificates Trading, Emission Trading Which One to Choose? Dr. Xiaodong Wang, EASCS September 11, 2013 Structure of the Presentation Context: Chinese government s commitment
More informationRenewable Energy Fund
For discussion purposes only not suitable for retail clients Renewable Energy Fund Trusted Alternatives Summary Document April 2013 Under The Enterprise Investment Scheme Summary Document The following
More informationOpportunities for the Georgian Hydropower industry to benefit from Directive 2009/28EC of the European Parliament
Promotion hidroenergetikasi Project investiciebis (HIPP) Opportunities for the Georgian Hydropower industry to benefit from Directive 2009/28EC of the European Parliament What Europe wants to do Comply
More informationTHE ENERGY PRICE CHALLENGE A report into energy price inflation for business
A Power Efficiency White Paper THE ENERGY PRICE CHALLENGE A report into energy price inflation for business THE PROBLEM Why does a business need an energy management strategy? This paper looks at what
More informationThis document outlines Wales & West Utilities Business Plan for the next regulatory period from 2013-2021.
This document outlines Wales & West Utilities Business Plan for the next regulatory period from 2013-2021. It has been prepared following extensive consultation with a wide range of stakeholders and reflects
More informationNorwegian position on the proposed EU framework for climate and energy policies towards 2030
Norwegian position on the proposed EU framework for climate and energy policies towards 2030 The EU plays an important role as a global leader in climate policy and has a fundamental interest in strengthening
More informationHow To Promote A Green Economy In The European Constitution
Informal Meeting of EU Environment Ministers Background document Session Green growth: greening the European Semester and the EU 2020 Strategy 1) Introduction Milan, 16July 2014-15.00-18.00 The European
More informationRenewable Energy for Kent
Design + Planning Building Engineering Renewable Energy for Kent Part I: Overview and Action Plan April 2012 Updated Version 1 Committing a Path The development of low carbon and renewable energy sources
More informationTax benefits for ultra low emission vehicles
k0 Tax benefits for ultra low emission vehicles Ultra low emission vehicles (ULEVs) are vehicles that produce less than 75g of carbon dioxide (CO2) for every kilometre travelled. Both private and business
More informationThe Energy Saving Trust s community solar programme How your community can benefit from discounted solar panels and Feed-in Tariffs
The Energy Saving Trust s community solar programme How your community can benefit from discounted solar panels and Feed-in Tariffs 1 Introduction Feed-in Tariffs have arrived, which means there has never
More informationThe economics of wind power: submission to the inquiry by the House of Commons Select Committee on Energy and Climate Change.
The economics of wind power: submission to the inquiry by the House of Commons Select Committee on Energy and Climate Change Samuela Bassi and Sam Fankhauser Policy paper November 2012 Centre for Climate
More informationSolar Power in China. By Zhou Fengqing
Solar Power in China By Zhou Fengqing Overview Adjust Chinese power structure Feasibility of solar power in China Solar energy as national policies Legislations of solar energy Adjust Chinese Power Structure
More informationReducing energy costs and improving business...
Reducing energy costs and improving business... Energy Procurement Energy Legislation Carbon Reduction Renewable Energy Water Services www.energyteam.co.uk Working in partnership with energyteam we have
More informationThe Future of London s Power Supply
The Future of London s Power Supply SPECIAL INTEREST PAPER CITY OF LONDON CORPORATION REPORT PREPARED BY STEPHEN JONES ASSOCIATES AND SOUTH EAST ECONOMICS The Future of London s Power Supply is published
More informationCRS Report Summaries WORKING DRAFT
CRS Report Summaries R40147 Green Buildings This is a definition and analysis of the cost and benefits of green buildings. It also cites agencies and laws that encourage the building of environmentally
More informationDifferentiated IP Regimes for Environmental & Climate Technologies. Keith Maskus ICCG ICARUS International Workshop Venice, May 20, 2011
Differentiated IP Regimes for Environmental & Climate Technologies Keith Maskus ICCG ICARUS International Workshop Venice, May 20, 2011 Background Critical needs for new mitigation and adaptation technologies.
More informationBusiness bills for both electricity and gas are made up of two main parts - Non - Energy Costs
Business bills for both electricity and gas are made up of two main parts - Non - Energy Costs Non-energy costs pay for running the UK s gas and electricity networks and comprise a variety of obligations,
More informationRenewable energy Prepared by Audit Scotland
Renewable energy Prepared by Audit Scotland September 2013 Auditor General for Scotland The Auditor General s role is to: appoint auditors to Scotland s central government and NHS bodies examine how public
More informationSolving a taxing puzzle. making environmental taxes work for business
Solving a taxing puzzle making environmental taxes work for business 2 Contents Executive Summary 3 Environmental taxes are playing an increasingly prominent role in the UK 5 The existing landscape does
More informationEXPLANATORY MEMORANDUM TO THE CONTRACTS FOR DIFFERENCE (ELECTRICITY SUPPLIER OBLIGATIONS) REGULATIONS 2014. 2014 No. [XXXX]
EXPLANATORY MEMORANDUM TO THE CONTRACTS FOR DIFFERENCE (ELECTRICITY SUPPLIER OBLIGATIONS) REGULATIONS 2014 2014 No. [XXXX] 1. This explanatory memorandum has been prepared by the Department for Energy
More informationGermany's energy transition: Status quo and Challenges.
Ulrich Benterbusch Germany's energy transition: Status quo and Challenges. 2 nd Session Group of Experts on Renewable Energy, UNECE, Geneva 1 Agenda. Energy transition: Status quo and official goals. German
More informationIndependent Renewable Energy Generators
Route to Market Q&A 1. Why won t the CfD-FITs provide a route to market for independent generators? 2. Why won't the problem be resolved with the introduction of CfDs? 3. Why won't the proposed voluntary/market-led
More informationENERGY EFFICIENCY AND RENEWABLE ENERGY ESCOs INNOVATIVE FINANCING SOLUTIONS. Helping you to cut the cost of your energy and secure its supply
ENERGY EFFICIENCY AND RENEWABLE ENERGY ESCOs INNOVATIVE FINANCING SOLUTIONS Helping you to cut the cost of your energy and secure its supply THE PROBLEM A challenging energy landscape THE SOLUTION BDO
More informationDraft Scope 2 Accounting Guidance: What it could mean for corporate decisions to purchase environmental instruments
Draft Scope 2 Accounting Guidance: What it could mean for corporate decisions to purchase environmental instruments September 2014 Corporate Scope 2 accounting has traditionally been relatively straight
More informationAssociation of Accounting Technicians response to Strengthening the incentive to save: a consultation on pensions tax relief
Association of Accounting Technicians response to Strengthening the incentive to save: a consultation on pensions tax relief 1 Association of Accounting Technicians response to Strengthening the incentive
More informationEnergy prices and bills - impacts of meeting carbon budgets. Committee on Climate Change December 2014
Energy prices and bills - impacts of meeting carbon budgets Committee on Climate Change December 2014 Energy prices and bills impacts of meeting carbon budgets Committee on Climate Change December 2014
More informationAddressing Competitiveness in introducing ETR United Kingdom s climate change levy
Low Carbon Green Growth Roadmap for Asia and the Pacific CASE STUDY Addressing Competitiveness in introducing ETR United Kingdom s climate change levy Key point The UK Government introduced an energy tax
More informationENA Submission to the Parliamentary Renewable and Sustainable Energy Group Inquiry into the access and management of renewables and the Grid
1 ENA Submission to the Parliamentary Renewable and Sustainable Energy Group Inquiry into the access and management of renewables and the Grid 1.0 Introduction 1.1 Energy Networks Association (ENA) is
More informationCHP & ENVIRONMENTAL COMMODITIES: MARKET & POLICY UPDATE FOR MONETIZING RENEWABLE ENERGY CREDITS FROM CHP PROJECTS. Thomas Jacobsen October 2012
CHP & ENVIRONMENTAL COMMODITIES: MARKET & POLICY UPDATE FOR MONETIZING RENEWABLE ENERGY CREDITS FROM CHP PROJECTS Thomas Jacobsen October 2012 ELEMENT MARKETS US Emissions House of the Year Launched in
More informationGreen paper on the management of biowaste in the European Union
COUNCIL OF EUROPEAN MUNICIPALITIES AND REGIONS CONSEIL DES COMMUNES ET REGIONS D EUROPE Green paper on the management of biowaste in the European Union COM (2008) 811 final CEMR RESPONSE Brussels, March
More informationGreen Power Accounting Workshop: Concept Note For discussion during Green Power Accounting Workshop in Mexico City, May 13th 2011
Introduction As more companies and government organizations prepare greenhouse gas (GHG) inventories that reflect the emissions directly and indirectly associated with their operations, they increasingly
More informationELECTRICITY DEMAND SIDE MEASURES
Ref: (S)978/hf 9 July 2014 IET evidence to the Energy and Climate Change Committee on ELECTRICITY DEMAND SIDE MEASURES EXECUTIVE SUMMARY 1. Permanent Electricity Demand Reduction (EDR) and Demand Side
More informationFinancing Mechanisms and Financial Incentives
2 Best Practices for Sustainable Wind Energy Development in the Great Lakes Region Great Lakes Wind Collaborative Best Practice #2 High energy prices can act as a driver for creating and enhancing wind
More informationNon Traditional Business Models: Supporting transformative change in the energy market
Non Traditional Business Models: Supporting transformative change in the energy market Response by Community Energy England, Regen SW, Community Energy Coalition and 10:10 SUMMARY This is a collaborative
More informationEconomic impacts of expanding the National Insurance Contributions holiday scheme Federation of Small Businesses policy paper
Economic impacts of expanding the National Insurance Contributions holiday scheme Federation of Small Businesses policy paper Overview This research paper sets out estimates for the economic and employment
More informationTotal Tax Contribution of the UK banking sector
www.pwc.co.uk Total Tax Contribution of the UK banking sector A publication prepared by PwC for the British Bankers Association September 2015 Table of Contents Foreword... 4 Executive summary... 5 Purpose
More informationElectricity market reform: policy overview
Electricity market reform: policy overview May 2012 Contents Introduction... 3 Electricity Market Reform... 6 The Move to EMR... 21 Costs and Benefits of EMR... 24 EMR in the Devolved Administrations...
More informationEnergy Action Scotland Response to the Energy and Climate Change Select Committee Inquiry into Energy Prices, Profits and Poverty
NK/9349 Energy Action Scotland Response to the Energy and Climate Change Select Committee Inquiry into Energy Prices, Profits and Poverty 1. Introduction Energy Action Scotland (EAS) is the Scottish charity
More informationDuke Energy Florida. Solar Energy in Florida FPSC Request for Comments. Enhancing the development of solar technologies in Florida
2015 Duke Energy Florida Solar Energy in Florida FPSC Request for Comments Enhancing the development of solar technologies in Florida INTRODUCTION Duke Energy is committed to providing safe, reliable,
More informationFinancing Energy Efficiency and Renewable Energy through the India Renewable Energy Development Agency
RENEWABLE ENERGY INDUSTRIAL ENERGY EFFICIENCY BUILDING ENERGY EFFICIENCY Financing Energy Efficiency and Renewable Energy through the India Renewable Energy Development Agency A RANGE OF FINANCIAL SUPPORT
More informationSUBMISSION TO THE QUEENSLAND PRODUCTIVITY COMMISSION ISSUES PAPER ON SOLAR FEED IN PRICING IN QUEENSLAND
SUBMISSION TO THE QUEENSLAND PRODUCTIVITY COMMISSION ISSUES PAPER ON SOLAR FEED IN PRICING IN QUEENSLAND ui CHAMBER OF COMMERCE AND INDUSTRY QUEENSLAND SUBMISSION 23 November 2015 1 CONTENTS 1.0 OVERVIEW...3
More information