External costs: What do they mean for energy policy?

The European Commission's ExternE Project has made major advances in the quantification of external costs of electricity. Although some impacts cannot be valued, important conclusions are possible. This paper outlines some provisional implications for energy policy. External costs are technolog...

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Bibliographic Details
Published in:Energy policy 1997, Vol.25 (1), p.85-95
Main Author: Eyre, Nick
Format: Article
Language:English
Subjects:
Alternative energy sources
Applied sciences
Costs
Electrical industries
Electricity
Energy
Energy economics
Energy policy
Environmental degradation
Environmental impact
Environmental impact studies
Environmental impacts
Europe
European Union
Exact sciences and technology
External costs
External effects
Externality
General, economic and professional studies
Nuclear accidents & safety
Power plants
Regulation
Renewable energy sources
Renewable resources
Social costs
Studies
Sustainability
Sustainable development
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Summary:The European Commission's ExternE Project has made major advances in the quantification of external costs of electricity. Although some impacts cannot be valued, important conclusions are possible. This paper outlines some provisional implications for energy policy. External costs are technology dependent and for some older power plants are large compared to electricity prices. Global warming and nuclear accidents have very uncertain external costs and pose threats to sustainability. Well located renewable energy sources have low external costs and provide sustainable energy options. Both economic and regulatory instruments may be used for internalizing environmental externalities — a mix will be most appropriate.
ISSN:0301-4215
1873-6777
DOI:10.1016/S0301-4215(96)00124-3