Aberthaw Power Station and Decarbonisation

[whole diary]

[Bmblbzzz]

I'm in agreement with you there.

[TonyK]

I have always been rather doubtful about renewable energy certificates, carbon offsetting and related schemes that claim to reduce carbon emissions by moving around money and pieces of paper.

Such procedures remind me of the former Church practice of selling indulgences, whereby sins could be forgiven for a suitable payment.

Far preferable would be to physically reduce carbon emissions by greatly reducing combustion of fossil fuels. More wind turbines, more PV modules, and less gas, oil, and coal use.

There seems to be a view that we can trade or offset our way out of doing much on the ground.

The perfect analogy! As a nation, we are very good at exporting the muckier side of our economy, and less so at seeing the big picture. Why would we want to spoil our lovely countryside in the pursuit of fuel when we can buy it from henchmen, hangmen and headsmen overseas?

[TonyK]

In other news, I see from the business pages of today's paper that there is to be an increase in the amount of spare generating capacity coming up for tender by auction, to fill in for renewables on those cold, dark windless days. This is readily available energy, needed infrequently and at a moment's notice. National Grid has been concerned that a number of the companies who made undertakings could not actually deliver when needed, or had gone to the wall, leading to some very delicate juggling by the control room. Companies relying on coal were given particular mention. I suppose that isn't surprising, given that coal-fired power stations take time to fire up, unless they are left running on "spinning reserve". Batteries got a mention, but the article didn't say what was actually available from them.

[broadgage]

Here is a good example of indulgences being sold.
Customers believe that that they are buying green electricity, when in fact much of it is produced by burning fossil fuels.
But with the purchase of indulgences carbon offsets or credits.

https://www.bbc.co.uk/news/business-56602674

[TonyK]

Here is a good example of indulgences being sold.
Customers believe that that they are buying green electricity, when in fact much of it is produced by burning fossil fuels.
But with the purchase of indulgences carbon offsets or credits.

https://www.bbc.co.uk/news/business-56602674

Somebody at the BBC^» (British Broadcasting Corporation - home page) has been reading my posts here and elsewhere over the past few years. 

Some interesting reading between the lines here. The few companies who actually generate the renewable energy they sell are allowed to charge their customers more for the privilege of being holy. It follows therefore that renewable energy is more expensive to generate than other forms, which goes against what the green lobby keep telling us, unless the idea is to enrich the owner of the company to a greater degree than the hated fat cats at the big multinationals as a reward. I don't think that can be the case, as the most famous such owner only owns one football team, and his castle isn't particularly huge. Being able to sell the product twice must help, although I still don't know where the energy comes from on our many windless days and nights.

What would happen if everyone in the country signed up to a green tariff? Would the energy companies say sorry, no, we've run out of stiffcuts? My guess is that they would scour the earth for more REGOs^▸ (Renewable Energy Guarantee of Origin), so pushing the price up to a point where it might cost as much as £2 per year per household to greenwash the tariff and put a picture of a wind turbine on the bill, all the while making electricity from rendered dolphin carcasses.

What would happen if nobody bought into the lie? Would the windmills and solar panels all disappear? Of course not. Energy companies would just have to find new ways to fleece their customers, and employ more PR^▸ (Public Relations) people to spread the myth of how green are their hillsides. You can see that the spin doctors are hard at work already:

Its chief executive, Emma Pinchbeck, says: "All renewable tariffs, including those with REGOs, are supporting renewables in some way. Over a third of our power now comes from renewables.

A third of our electricity might come from renewables, if you include the scandalous output of Drax's alleged biomass, but that still equates to well under 10% of our energy use. That hasn't stopped talk of using excess renewable energy (there isn't any) to make hydrogen and charge batteries to see us through the doldrums and the nights. Buying pieces of paper isn't going to square this circle.

I love the idea of "indulgences", broadgage! I shall steal it immediately.

[TonyK]

And right on cue, a pop-up in Facebook:

Profit from The Global £200 Billion Green Energy Industry. Earn up to 11% from the Green Energy Fund. Request a Free Investor Brochure:
✅  Earn 9% per Annum
✅  Receive Bi-Annually Payments
✅  Low Risk
✅  Ethical Investment
✅  Green Energy Technology
✅  Dividend Tax Only
✅  Diverse Sectors
✅  Asset-Backed
✅  UK^▸ (United Kingdom) Headquarters
✅  FCA Custodian

Disgusting. Although given that I can't find 11% return on investment anywhere else, have some cash to put away somewhere, and am completely devoid of principle, I will do a bit more research, and could take a punt.

[broadgage]

I would very strongly advise against putting any money into any investment scheme that is advertised on line.

[GBM]

I would very strongly advise against putting any money into any investment scheme that is advertised on line.

Agreed, and 11% sounds too good to be true, with interest rates generally well below 3%.

[TonyK]

I would very strongly advise against putting any money into any investment scheme that is advertised on line.

Me too. My further research hasn't persuaded me to part with my hard-earned / ill-gotten.

[broadgage]

I would very strongly advise against putting any money into any investment scheme that is advertised on line.

Me too. My further research hasn't persuaded me to part with my hard-earned / ill-gotten.

If you have any money to invest, it might be worth considering spending some on your home to reduce energy costs.
Better thermal insulation to reduce heating energy used.
Better and more efficient heating system.
Double glazing.
Grid tied solar panels.
Electric car ?
Electrically assisted bicycle ?

Put aside some money for future replacement of domestic appliances with the most efficient available. The economics of replacing a large appliance that still works correctly are very doubtful. If however you need a new fridge, freezer, washing machine, TV, computer, or other appliance in any case then buy the most energy efficient available.

Whilst I can not speak for your personal circumstances, I have observed many cases in which people regard spending on energy efficiency as an "expense" that might not be afforadable. Putting money into stocks, shares, ISAs and the like is regarded as an investment and is a good thing.
In many cases spending on energy saving gives a much better rate of return than the more usual investments.

[IndustryInsider]

Or invest in Bitcoin.  Not so good for the environment though!

[TonyK]

Or invest in Bitcoin.  Not so good for the environment though!

And a bubble likely to burst soon. It is the ultimate in speculation for speculation's sake, and could form a new discussion on its own. The energy expended is considerable, said to be around 0.6% of the electricity used in the whole world, or slightly more than Argentina.

[IndustryInsider]

Yes, a terrible thing for many reasons, though predictions of bubbles bursting have been around for years but it keeps sky rocketing!  There’s some incredibly rich early investors out there...and a few more people with hard drive wallets they can’t access coz they’ve forgotten their password!

[TaplowGreen]

Or invest in Bitcoin.  Not so good for the environment though!

.............this may be worth considering as an investment too, I believe we have an authority on the subject amongst us! 

https://www.taylor.pt/us/buy-port-wine/buying-advice/buying-port-as-an-investment#:~:text=Investment%20in%20Vintage%20Port%20becomes%20particularly%20attractive%20when,in%20stocks%20and%20bonds%20look%20risky%20or%20volatile.

[IndustryInsider]

A new form of liquid asset?