http://www.edie.net/news/news_story.asp?src=nl&id=19261

Blimey. They obviously think Peak Oil will hit soon.

In order to prevent this the report backs TEQ, pronounced texs, which boiled down to the basics is a system advocating giving every citizen a set number of vouchers so when they buy fuel or energy they pay in cash as well as those vouchers.

It has no absolute cap so people and businesses can buy more vouchers if they need to but it also, hopes to, treat everyone equally by offering a guaranteed minimum.

When fuel or electrical energy is purchased, buyers pay for it as usual using money, but must also surrender units corresponding to the carbon content of their purchase. Individuals who use less than their Entitlement of units can sell the surplus; those who need more can buy them on the market. The units are electronic.

The number of occasions on which individuals actually purchase energy is quite limited – perhaps eight times a year for utilities, although it could rise to some thirty times a year for individuals with cars – and most TEQs transactions are done by card and direct debit.

Moreover, on each of these occasions, the surrender of TEQs units takes place along with the money payment, as part of the same transaction. This is a system with low levels of noise and administration, leaving people to concentrate on the challenge of living within the steep descent in the availability of fossil fuels.

I wonder what the basic allowance will be?

could be quite lucrative for some people.

Yeah, I have no car so I’d just need to find someone with a Q7 or something and sell them my surplus 😀

I wonder what the basic allowance will be?

National carbon target/number of people in the country

That would make sense. And the carbon target will reduce every year.
They are calling it “The energy descent”