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The Carbon Crunch$
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Dieter Helm

Print publication date: 2012

Print ISBN-13: 9780300186598

Published to Yale Scholarship Online: October 2013

DOI: 10.12987/yale/9780300186598.001.0001

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Making the transition

Making the transition

(p.195) Chapter 10 Making the transition
The Carbon Crunch

Dieter Helm

Yale University Press

This chapter focuses on the importance of a transition strategy—one that heads off the enormous projected expansion of coal-fired power stations and gets the existing ones closed as fast as possible. The shale gas revolution has a particular resonance for the electricity market and for the options for new power stations. Gas-fired power stations have the peculiar economic merit of being comparatively quick to build, and have lower capital costs relative to coal, nuclear, and wind. Opponents of shale gas developments have a good case to make about specific locations, and about the general quality of the regulatory framework. Because none of the existing technologies can achieve decarbonization, new technologies are required, and the R&D will therefore have to be financed.

Keywords:   transition strategy, power stations, shale gas, electricity market, decarbonization

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