UK Climate Change Policy Topics In Microeconomics UK Climate Change Policy 20123169 최병목 20123168 차건일 20123140 양기윤

CONTENTS 1 5 3 Introduction ETS Taxation 2 4 Subsidy Regulations

Global warming Global warming caused by carbon emissions

1997 Kyoto Protocol

Climate Change Committee

The Climate Change Act 2008

Energy Act

Renewable Obligation

Feed In Tariffs(FIT)

Carbon Capture & Storage (CCS) https://https://youtu.be/tPzJ7Q_iG6A

Climate Change Levy Greenhouse gas reduction goals and enhance energy security in the dimension has been introduced in April 2001. Industry, commerce, agriculture and energy production in the final consumer in the public sector are charged based on usage.

Climate Change Levy The freeze was between 2001 and 2007. Since 2008 Taxable Since April 2008 Since April 2011 Since April 2012 Electric £0.00456/kwh £0.00458/kWh £0.00509/kWh The gas of the gas supplier £0.00159/kWh £0.00169/kWh £0.00177/kWh LPG or other gas £0.01018/kg £0.01083/kg £0.01137/kg Other product £0.01242/kg £0.01321/kg £0.01389/kg The freeze was between 2001 and 2007. Since 2008 we continued to raise as shown in the following table.

Carbon Price Support Based on the CCL and is being implemented from April 2013. It will be applied in conjunction with the emissions trading scheme. Such as the global financial crisis in 2009 and concerns the emissions price slump in unpredictable circumstances, introduced a carbon price support schemes.

Carbon Price Support lower limits (Carbon Price Floor) of a carbon tax emissions trading scheme If prices fall to CPS tax credits or less, a emission policy to allow unrestricted sales tax to the CPS.

Carbon Price Support Division 2014-2015 2015-2016 2016-2017 Tax rate (euro/tCO2) 9.44 12.06 14.86 The lower limit determines the price of carbon emissions trading. Middle and expected to have a long-term plan.

landfill tax landfill tax was introduced in 1996 Suppressing waste generation, reducing final destination volume(recycling rate improvement)

Vehicle Excise Duty A flat-rate levy on all cars by 1992. Since March 2001 fully charged according to the exhaust gas (CO 2) emissions and fuel type.

Plug-in Hybrid Vehicle subsidy In January 2011, the British government has donated 200 million to buy 30 million £ PHV subsidies The scheme allows aid to a limit of 25% of the purchase price for electric car buyers a £ 5000 government specified.

Subsidies to LPG Use Home • When switching an electric heater to LPG heaters can be supported up to 320 pound ~ 220 pound. • Heating boiler unit when the carbon emissions of the energy product to write from home most high switching to LPG even greater carbon savings.

What is ETS?

UK ETS’s Proposal to secure cost-effective GHG emissions reductions to give UK companies experience of ETS, with a particular view to being ready for the EU ETS to Establish an emissions trading center in London

Change over to ETS Date(month/year) Development March 2002 UK ETS began February 2003 Energy White Paper published September 2004 Review of Climate Change Programme launched January 2005 EU ETS began July 2005 G8 Summit under UK Presidency July 2005 Stern Review announced December 2005 Energy Efficiency Innovation Review report published March 2006 New UK Climate Change Programme published April 2006 Revised Building Regulations Part L came into force July 2006 Energy Review published September 2006 Plans for Office of Climate Change announced January 2007 Participate EU ETS

AUCTION 1st Announce a tCO2e price 2nd demand bid 3rd Submitted a bid 4th Announce total tCO2e 5th The price is bigger than incentive, next stage 6th Adjustment about The price is same or small than inventive

Participate a ETS Direct Participant Agreement participant Project Participant Registry

Result of ETS http://webarchive.nationalarchives.gov.uk/20130822084033/ http://www.defra.gov.uk/Environment/climatechange/trading/uk/pdf/ukets1-4yr-appraisal.pdf

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