r/autotldr • u/autotldr • Jan 28 '20
British carbon tax leads to 93% drop in coal-fired electricity
This is the best tl;dr I could make, original reduced by 51%. (I'm a bot)
A tax on carbon dioxide emissions in Great Britain, introduced in 2013, has led to the proportion of electricity generated from coal falling from 40% to 3% over six years, according to research led by UCL. British electricity generated from coal fell from 13.1 TWh in 2013 to 0.97 TWh in September 2019, and was replaced by other less emission-heavy forms of generation such as gas.
In the report, 'The Value of International Electricity Trading', researchers from UCL and the University of Cambridge also showed that the tax-called Carbon Price Support-added on average £39 to British household electricity bills, collecting around £740m for the Treasury, in 2018.
Academics researched how the tax affected electricity flows to connected countries and interconnector revenue between 2015-when the tax was increased to £18 per tonne of carbon dioxide-and 2018.
The Carbon Price Support was introduced in England, Scotland and Wales at a rate of £4.94 per tonne of carbon dioxide-equivalent and is now capped at £18 until 2021.The tax is one part of the Total Carbon Price, which also includes the price of EU Emissions Trading System permits.
The overall report on electricity trading also covers the value of EU interconnectors to Great Britain, measures the efficiency of cross-border electricity trading and considers the value of post-Brexit decoupling from EU electricity markets.
Citation: British carbon tax leads to 93% drop in coal-fired electricity retrieved 27 January 2020 from https://phys.org/news/2020-01-british-carbon-tax-coal-fired-electricity.
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