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XV.b Indigenous fossil-fuel production costs

The indigenous fossil-fuel worksheet describes how much oil, gas and coal are extracted from the UK.

There are three scenarios, which vary in how much effort is put into extracting the remaining UK reserves.

See also:

  1. XVI.b Balancing imports costs

Source data

Forecasts of fossil fuel prices:

  1. Oil Price cost data
  2. Coal Price cost data
  3. Gas Price cost data

Explanation of our working assumption:

  1. 2050 working assumption oil price 2010-2050
  2. 2050 working assumption coal price 2010-2050
  3. 2050 working assumption gas price 2010-2050

Modelling approach

  1. Make a simplifying assumption that domestic production costs the same as imports (this assumes that we extract whatever is economic).
  2. Assume that the same price applies at all times

Contact

  1. 2050 Team: Tom Counsell

Discussion

  1. Should we attempt to cost this on the basis of actual extraction costs?

General Comments

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