Sent From Bloomberg Mobile MSG
U.K. Should Cut Emissions by 60% by 2030 to Meet 2050 Targets
2010-12-07 00:01:00.10 GMT
By Kari Lundgren
Dec. 7 (Bloomberg) -- The U.K. should commit to reducing
carbon-dioxide emissions by 60 percent by 2030 from the level in
1990 to meet its targets for 2050, the Energy and Climate Change
This would mean tightening targets through 2020, the
committee said today in a report, adding that proposed emissions
reductions can be achieved at a cost of less than 1 percent of
gross domestic product.
The U.K. has pledged to get 15 percent of its energy from
renewable sources by 2020 and reduce carbon-dioxide emissions by
80 percent from 1990 levels by 2050. Achieving this will require
as much as 40,000 megawatts of low-carbon energy projects and a
"radical reform" of the electricity markets, the group said.
Prime Minister David Cameron's government plans to announce
changes to energy regulations this month as it seeks to
accelerate investment in projects to reduce emissions. The
committee recommended auctioning off long-term electricity
contracts to boost investment in low-carbon projects, including
offshore wind and nuclear power. It also suggested establishing
a carbon floor price rising to 27 pounds ($42) a ton by 2020.
"The electricity industry has to attract massive new
investment," David Porter, chief executive officer at the
Association of Electricity Producers, said in a statement,
estimating that as much as 200 billion pounds will be needed by
2020. "In the present financial climate, there is a serious
risk that this will not be available."
Widespread adoption of electric cars and vans could trim
emissions by as much as 45 percent by 2030, the committee said.
This can be achieved if 60 percent of all new cars and vans sold
over the next 20 years are electric and that 11 million electric
cars are on the road by then.
"Any less ambition would not be compatible with the 2050
target in the Climate Change Act," Committee Chairman Adair
Turner said in a statement. "The case for action on climate
change is as strong as ever."
The committee was established as an independent body under
the 2008 climate act to advise the U.K. on setting carbon
budgets and preparing for climate change.
For Related News and Information:
U.K. power market stories: TNI UK PWRMARKET <GO>
Top energy news: ETOP <GO>
U.K. electricity prices: ELEU <GO>
--Editor: Jonas Bergman, Alex Devine
To contact the reporter on this story:
Kari Lundgren in London at +44-20-7073-3442 or
To contact the editor responsible for this story:
Will Kennedy at +44-20-7073-3603 or