Summaries - Australian Financial Review
Saturday 12/12/2009 Page: 39
Australia's emissions trading scheme may be on hold, but companies including AGL and Origin Energy have been thinking about a carbon-constrained world for some time, according to Macquarie Private Portfolio Management. Deloitte corporate finance director Karen Masnata says what is decided at the Copenhagen climate change summit will increase pressure on Australia to resolve an ETS. Data from the Energy Supply Association suggests that Australia's high reliance on high emission fossil fuels may impose a significant cost to the economy as it makes its transition to lower-emission technologies including solar and wind energy.
The Australian Bureau of Agricultural Resource Economics reports that of the advanced generation projects scheduled, renewables including wind and hydro represent 25%, while gas projects account for a further 60%. RBS Morgans says losers from a carbon pollution reduction scheme will be energy-intensive industries including coal-fired power generation (Babcock and Brown Power), mining, steel and other metals production (Alumina, BlueScope Steel and OneSteel) and petrochemicals (Incitec Pivot and Orica), while beneficiaries should include AGL, Origin Energy and Transfield Services Infrastructure Fund, as well as companies with large domestic gas reserves such as Santos and Origin Energy, and gas pipeline owners including the APA Group.
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