Seems like a win for @beisgovuk, as @hmtreasury was known to be keen on a carbon tax
2/
UK Energy White Paper is here.
I'll tweet the key points here👇
1/
Link to press
Seems like a win for @beisgovuk, as @hmtreasury was known to be keen on a carbon tax
2/
3/
https://t.co/JBU5HUDrFA
▶️ Heat & Buildings Strat
▶️ Industrial Decarb Strat
▶️ Hydrogen Strat
▶️ Net Zero Strat
▶️ Transport Decarb Plan
And more.
4/
https://t.co/njYHJx0sAI
Powering Out Net Zero Future.
Details to follow 🧵👇
5/
https://t.co/m3EOxuRllG
▶️ Transforming energy
▶️ Supporting a green recovery
▶️ Creating a fair deal for consumers
(page 8)
Sounds good
6/
Includes looking at how decarbonisation costs are split between gas and electricity (they're almost all on elec atm).
(page 30)
7/
8/
By March 2021, Gov will consult on introducing 'opt-in' and 'opt-out' switching for domestic energy customers.
Plus, consultation on more transparency on carbon content of domestic energy supply
(page 33 and page 34)
9/
Gov will consult on changing the energy supplier thresholds for ECO (Energy Company Obligation) and WHD (Warm Homes Discount) for the next phase of scheme (post-2022)
(Page 35)
10/
Obvious move is time-of-use tariffs but also 'Energy as a Service' type offerings.
Important for EV/Heat Pumps to unlock flex.
p.35
11/
By Spring 2021, Gov will consult on regulating third party energy brokers and price comparison websites.
Will also take powers to regulate smart appliances (including for interoperability) "when Parliamentary time allows)
p.36
12/
@beisgovuk reckons that electricity demand could double by 2050, which I think is broadly in line with @theCCCuk and others.
(page 44)
13/
BEIS launches CfE on future of renewable support post-2021 CfD auction, incl. how changes to CfD/wider market design can integrate renewables
@Policy_Exchange had lot to say on this in recent paper *Powering Net Zero*
p.46
14/
https://t.co/4KqOR0ujXh
To tackle barriers incl. networks & env impacts of large-scale RES.
Run by @DefraGovUK and @beisgovuk.
Joined-up planning a big part of @Policy_Exchange paper on North Sea
p47
15/
One project operational by 2030, based on existing CfD regime with amendments (e.g. to make sure that Power CCUS complements RES).
p.47
16/
In early-2021, Gov will consult on changing the 'CCS-ready' requirements for new large-scale gas power plants.
Notes current distortions of 300 MW threshold (ahem, 299MW OCGT projects).
Also notes potential for H2-fired conversions rather than CCS
p.48
17/
Gov aiming for Final Investment Decision on one more large nuclear plant by end of this Parliament (December 2024).
Exploring RAB model "alongside a range of financing options". Not a full-throated endorsement of RAB.
p.49
18/
https://t.co/GSaf9kgCYx
Gov to publish a Call for Evidence shortly, with a preliminary paper in Summer 2021, on "Biomass for Net Zero" including BECCS
In advance of "Biomass Strategy" in 2022.
p.53
19/
Gov to update the National Policy Statement (NPS) by the end of 2021.
Has been controversial because is used to justify development of new fossil fuel power stations.
p. 55
20/
Notes that BEIS wants to improve transparency (an ask from many) including an 'Open Modelling Environment'.
p.60-63
21/
BIES and Ofgem to publish a new 'Smart Systems Plan' in Spring 2021.
Gov to define electricity storage in law "when Parliamentary time allows" (welcome, but many of the barriers to storage already overcome e.g. thru' generation license')
p.72
22/
This is very important, something we flagged in our paper *Powering Net Zero*.
Money looks small, part of £100m investment in storage + flex innovation.
p.73
23/
Gov to legislate to enable competitive tendering for the onshore electricity network, as we already have for offshore wind.
Sounds like the CATO model may finally be completed.
p.76
24/
Including impact of imported emissions, which is always a big concern with imported electricity.
p.79
25/
https://t.co/18h7LAJ2i5
@beisgovuk and @ofgem will publish the UK's first Energy Data Strategy in Spring 2021.
Focuses on where to put infra like EVs chargepoints, as well as improving operational dispatch.
p.81
26/
Government will consult on updating the Gas Act, although this will be a slower process.
Starts with workshops in 2021 and a series of consultations.
p.84
27/
Gov will consult in 2021 on system operation + code governance. Assume this includes ownership/structure of @ng_eso.
Gov also published response to consultation on code governance.
p.85
28/
https://t.co/m1oISF7vqu
Government will consult in 2021 on implementing an SPS to give guidance to @ofgem on Gov vision for energy system.
Background from @ProfCMitchell on SPS here: https://t.co/PTfRN3NDw6
p.86
29/
Flags Heat and Buildings Strategy now expected early-2021.
Government response to Future Homes Standard expected "as soon as possible" - might include more details on the phantom 2023 end date for gas boilers in new homes.
p.102
30/
In 2021, Gov will consult on regulatory measures to improve energy efficiency of owner-occupied homes. Complements ongoing consultation on privately-rented homes.
p.104
31/
This was on of the asks in @Policy_Exchange 2015 paper, Warmer Homes, by @UKenergywonk.
p.109
32/
https://t.co/HOuOhCy1lf
p.110
33/
In late-2021, Gov will publish CfE on hydrogen-ready "boilers, cookers and fires".
p.113
34/
In Spring 2021, Gov will consult on heat networks, including "Local Heat Network Zoning" to coordinate development.
p.115
35/
New 'Green Jobs Taskforce' and a National Skills Fund, to be launched in 2021.
Focusing on energy efficiency and clean heat retrofits.
p.116
36/
Mainly reiterates existing announcements incl:
▶️Industrial Decarb Strategy in Spring 2021
▶️10 MTPA CO2 captured by 2030 in 4 low-carbon clusters.
▶️ H2 strategy in early-21
▶️ UK ETS from Jan-21 (per press release)
37/
Covers industrial CCS and clean H2.
One for the Industrial Decarbon and H2 strategies.
p.130
38/
▶️ Net Zero basin by 2050 (same as UK economy)
▶️ 'Zero Routine Flaring by 2030'
▶️ Highlights potential for re-use of O&G assets for CCS
▶️ Review the OPRED (regulator for env. & decommissioning)
39/
New strategy has a lot more about decarbonisation.
p.140
40/
@Policy_Exchange paper on Future of the North Sea said lots about this.
p.143
41/
https://t.co/m9cCJIOPgw
Government will also publish a draft 'Downstream Oil Resilience' bill to ensure supplies as oil volumes decrease.
p.146
42/42.
And that's it. Lots to do in 2021!
More from Government
'Peaceful transition to Military Power....'
Cannon
44
....heard around the world
NG - High Alert https://t.co/lfeSiUCCRB
We Will Never Forget
44
Stage is set
https://t.co/h6G3LCevII
Following the 44 trail of breadrumbs
https://t.co/PcX0uKUEUW
Cannon
44
....heard around the world
NG - High Alert https://t.co/lfeSiUCCRB
\U0001f4a5 BOOM \U0001f4a5
— R\u0113d.P\u012bll.Ph\u0101rm\u0101c\u012bst (@Red_Pill_Pharma) January 18, 2021
30 secs in - what do I hear?
\u2018Peaceful transition to military power\u2019
\U0001f1fa\U0001f1f8 MILITARY IS THE ONLY WAY \U0001f1fa\U0001f1f8 pic.twitter.com/9NPMT7N7Qy
We Will Never Forget
44
Stage is set
https://t.co/h6G3LCevII
The stage is set. Staged.
— JeLove (@LovesTheLight) November 7, 2020
Where? (the) Delaware.
10:44
Purple
First graphic in 98https://t.co/PKHlxp0rzS pic.twitter.com/XCx6pVQTHx
Following the 44 trail of breadrumbs
https://t.co/PcX0uKUEUW
Boom, Boom, Boom pic.twitter.com/ZcZXAgL0Qf
— JeLove (@LovesTheLight) August 13, 2020
They shouldn't be.
The pattern is:
GOP in power - GOP dictates policy
Dems in power - GOP dictates policy
The Dems shouldn't legislate toward the GOP.
The GOP doesn't represent its constituents.
The GOP can push it's agenda on its own time.
If Dems push an agenda that actually helps people, it'll also actually help the GOP constituency.
The GOP won't. So give them nothing.
The Dems should ignore the GOP just like the GOP ignores the Dems.
Make them pay for every moment of obstruction.
Just a hard press on legislation that is unassailable and shine a light on the GOP.
Constant. Relentless. Unyielding.
Shut them out and shut them down.
The GOP is not a legitimate political party. It is an anti-democratic, fascist criminal syndicate with no interest whatsoever in governance.
Nobody should give them the slightest bit of credit or legitimacy ever again.
Not a fucking ounce.
Nobody should engage them in legitimate debate in Congress.
They should be pariahs and treated as unserious occupants of Congress.
Because these people were totally ok with their colleagues being killed in furtherance of the destruction of the insitution.
The pattern is:
GOP in power - GOP dictates policy
Dems in power - GOP dictates policy
Soooooooo what\u2019s the problem. The statement I responded to read as it they haven\u2019t been trying to work together.. but they have so..?
— Othello (@BurberryKid11) February 2, 2021
The Dems shouldn't legislate toward the GOP.
The GOP doesn't represent its constituents.
The GOP can push it's agenda on its own time.
If Dems push an agenda that actually helps people, it'll also actually help the GOP constituency.
The GOP won't. So give them nothing.
The Dems should ignore the GOP just like the GOP ignores the Dems.
Make them pay for every moment of obstruction.
Just a hard press on legislation that is unassailable and shine a light on the GOP.
Constant. Relentless. Unyielding.
Shut them out and shut them down.
The GOP is not a legitimate political party. It is an anti-democratic, fascist criminal syndicate with no interest whatsoever in governance.
Nobody should give them the slightest bit of credit or legitimacy ever again.
Not a fucking ounce.
Nobody should engage them in legitimate debate in Congress.
They should be pariahs and treated as unserious occupants of Congress.
Because these people were totally ok with their colleagues being killed in furtherance of the destruction of the insitution.
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So the cryptocurrency industry has basically two products, one which is relatively benign and doesn't have product market fit, and one which is malignant and does. The industry has a weird superposition of understanding this fact and (strategically?) not understanding it.
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
If everyone was holding bitcoin on the old x86 in their parents basement, we would be finding a price bottom. The problem is the risk is all pooled at a few brokerages and a network of rotten exchanges with counter party risk that makes AIG circa 2008 look like a good credit.
— Greg Wester (@gwestr) November 25, 2018
The benign product is sovereign programmable money, which is historically a niche interest of folks with a relatively clustered set of beliefs about the state, the literary merit of Snow Crash, and the utility of gold to the modern economy.
This product has narrow appeal and, accordingly, is worth about as much as everything else on a 486 sitting in someone's basement is worth.
The other product is investment scams, which have approximately the best product market fit of anything produced by humans. In no age, in no country, in no city, at no level of sophistication do people consistently say "Actually I would prefer not to get money for nothing."
This product needs the exchanges like they need oxygen, because the value of it is directly tied to having payment rails to move real currency into the ecosystem and some jurisdictional and regulatory legerdemain to stay one step ahead of the banhammer.
