3 ms·
You're right to be dubious - but if these credits become sought after, expensive and rare because people are buying them up, the direction of travel is certainl
by Angostura 7y ago
You're right to be dubious - but if these credits become sought after, expensive and rare because people are buying them up, the direction of travel is certainly beneficial. Hopefully EON will attempt to reduce its costs by investing in new renewable energy sources.
- johneth 7y agoFrom the article: > "Clean power is available on all its tariffs at no extra cost with most of the renewable energy coming from its own wind, biomass and solar sources" So they're already heavily invested(ing?)
- dmurray 7y agoOne problem is that when the credits can only be used for virtue signalling, the same energy generation gets counted twice. For example, Norway produces virtually all of its power from renewable sources, and then sells the credits to Germany. The Norwegian consumers know that they are using renewable power, because they can see the hydro dams, and the Germans know that they are using renewable power, because they bought the carbon credits. Even though they can see coal or gas plants that are "obviously" actually powering their grid. This doesn't work as well if you actually have cap-and-trade for carbon emissions, and fine countries that don't have the right amount of credits. In that case a country that sells all its credits ends up getting fined.