Summaries - Australian Financial Review
Monday 25/8/2008 Page: 8
The Federal Government's much-touted emissions trading scheme has sparked a investment boom amongst Victoria's energy industry players, with surging demand, escalating prices and environmental concerns about brown-coal generators providing fresh opportunities for the state's alternative producers. Santos CEO David Knox described the gas explorer's foray into power generation as having 'high growth potential,' while Origin Energy revealed plans for a $640 million natural gas power station, and BHP Billiton and Exxon-Mobil announced plans to spend $1.4 billion on an oil and gas venture in the Gippsland Basin. In five years alone, median energy pool prices climbed from about $23 per megawatt hour to $60 MWH, according to National Electricity Market data.
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