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Historic Perspective on the Analogy between the Electric Grid and our Banking System | SciTechnol

Journal of Nuclear Energy Science & Power Generation Technology.ISSN: 2325-9809

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Review Article, J Nucl Ene Sci Power Generat Technol Vol: 9 Issue: 2

Historic Perspective on the Analogy between the Electric Grid and our Banking System

Per Ribbing* and Mats Leijon

Division of Electricity, Department of Engineering Sciences, Uppsala University, Sweden

*Corresponding Author : Per Ribbing, Division of Electricity
Department of Electrical Engineering
Uppsala University, Sweden
E-mail: per.ribbing@angstrom.uu.se

Received: April 29, 2020; Accepted: May 29, 2020; Published: June 17, 2020

Citation: Ribbing P, Leijon M (2020) Historic Perspective on the Analogy between the Electric Grid and our Banking System. J Nucl Ene Sci Power Generat Technol 9:2. doi: 10.4172/2325-9809.1000194

Abstract

For the sake of argument, money can roughly be divided into legal money and illegal money. We make moral choices to decide what kind of money we keep in our bank accounts: legal or illegal. Similarly, electric power can roughly be divided into fossil power and nonfossil power. In deregulated markets, we can make a moral choice to decide what power we buy: fossil or non-fossil. In this article, the commonly known “truth” about electric power is challenged and by doing so, it has unveiled the possibility of choosing not to consume any fossil power.

To make sure we can choose not to consume any fossil power we need to define a new entity, a new term: The audited Product Electricity. The Product Electricity does not exist without an audit of production versus consumption, e.g. today’s EU system with Guarantees of Origin. With the help of this new entity: the Product Electricity, a new understanding of how electric power is traded can be offered before ending up in our sockets. We believe that with this new definition of an audited Product Electricity we have found a brand new understanding of electric power which is a very important product that we use practically every day.

We appreciate that this is not a humble statement. Yet, we humbly ask you to consider embracing this new understanding of what it means to trade electric power and what Product Electricity you actually choose to consume, or rather, which power you choose not to consume.

Keywords:

Fossil free; Climate change; Green power; Nuclear power; Consumer power

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