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  "docSlug": "0f638186bb9b059e",
  "documentTitle": "UK Electricity Efficiency Potential",
  "authorId": "McKinsey",
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  "notes": "The slide uses a simple equation visual to explain the creation of an ESC (removal of inefficient tech + installation of efficient tech = certificate).",
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      "kind": "callout",
      "text": "This market inconsistency presents market price risks for private sector investors interested in using the EEPS to finance EE projects in Connecticut.",
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      "kind": "diagram",
      "text": "Take-out and recycle 20 80W incandescent + Install 20 20W CFL = Electricity savings 1,000 kWh",
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      "text": "The market\nClass III ESCs are being registered, exchanged, and sold through the NEPOOL generation information system (GIS) - see figure 4\nDespite the number of registered ESCs (907, 891) exceeding the estimated demand (640, 740) for the EEPS in 2008, the price appeared to be near the DPUC-established ACP of USD 31. One would expect if the market for ESCs is in surplus (267, 151), then the associated price would approach the floor price of USD 10, but this has not been the case. This market inconsistency presents market price risks for private sector investors interested in using the EEPS to finance EE projects in Connecticut. Due to this over-supply of ESCs in the EEPS in Connecticut, earth markets has recommended to the DPUC through docket number 05-07-19RE02 that there be a cap of 25% on the number of ESCs that can be registered and sold by the CEEF",
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      "kind": "paragraph",
      "text": "Example of an ESC created from the earth markets community energy savings project – lighting",
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      "kind": "title",
      "text": "Explanation of ESCs",
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