In this paper, which forms a chapter in the forthcoming Book “Delivering a Low Carbon Electricity System: Technologies …, Economics and Policy”2, Grubb and Newbery examine how carbon for electricity generation should be priced. They begin by … prices. They then go on to discuss the theoretical merits of taxes versus quotas, concluding that theoretically a stable tax …

We explore the relationship between low carbon objectives and the strategic security of electricity in the context of … the UK Electricity System. We consider diversity of fuel source mix to represent one dimension of security - robustness … against interruptions of any one source - and apply two different diversity indices to the range of electricity system …

Moving to a very low carbon electricity system is central to meeting the goals of UK energy policy, and indeed to the … wider global challenge of tackling climate change. This will require massive investment in low carbon electricity sources … carbon price in the present liberalised electricity market, supplemented with additional incentive mechanisms like renewable …