19 Jan 2011 11:01:12

Parliamentary group advocates 'energy rationing'

Radical new proposals which would see consumers given credits determining how much energy they could use have been laid out by a government group.

The All Party Parliamentary Group on Peak Oil commissioned a new report suggesting the introduction of Tradable Energy Quotas (TEQs), where credits are issued free to all adults, would "ensure fair and equal entitlements to fuel and energy".

Any surplus TEQs could be bought and sold by individuals, meaning there would be no maximum limit placed on the number of credits a person could own, while the government and businesses would bid for their credits at a weekly tender.

"Tradable Energy Quotas are the only way we can reduce carbon emissions and at the same time guarantee that everyone gets fair access to limited energy supplies," said Shaun Chamberlin, director of the Lean Economy Connection and co-author of the report.

He added that the system was an alternative to placing a tax on carbon.

The UK is aiming for an 80 percent reduction in carbon emissions by 2050, with an interim target of a 34 percent cut by the year 2020, as set out in the Climate Change Act of 2008.