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Harmonising renewable support mechanisms

Harmonising renewable support mechanisms. Dr David Toke: Senior Lecturer in Environmental Policy, University of Birmingham and also Energy Expert, World Future Council. What is a REFIT?. Guaranteed minimum price for renewable electricity production

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Harmonising renewable support mechanisms

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  1. Harmonising renewable support mechanisms Dr David Toke: Senior Lecturer in Environmental Policy, University of Birmingham and also Energy Expert, World Future Council

  2. What is a REFIT? • Guaranteed minimum price for renewable electricity production • Long term contract for power purchase (15-20 years) • Different to NFFO and RO

  3. What is a RPS? (green electricity certificate scheme) • Electricity suppliers given renewable obligation • RE projects sell certificates (and energy) • Electricity suppliers buy certificates or pay penalty

  4. Why a REFIT? Less income uncertainty, higher project IRR for a given income level

  5. 2005-2006

  6. UK RO confusion?

  7. REFIT = transparency for local and small investors

  8. Advantages of harmonisation

  9. Theoretical advantages of harmonisation • Investment would flow to where it is most efficient • All countries would be forced to participate

  10. Harmonised EU-wide RPS? • Great uncertainty over certificate value • Lack of competition in several countries (eg France, Germany) • Bottlenecks in some countries (eg UK) • Loss of local investment • Some countries would refuse to participate

  11. A single REFIT? • Local conditions (esp wind speeds) differ • Some countries would object

  12. Harmonised transferability • UK, Italian, Belgium obligations de-stabilised • Germans would pay for Danish etc renewables

  13. Contacts • ‘Making Renewables FITTER’ report available at http://www.worldfuturecouncil.org/ • Dr David Toke: d.toke@bham.ac.uk • Miguel Mendonca (WFC): miguel@worldfuturecouncil.org

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