Monday, 16 May 2011

Industry’s 50-50 bet on carbon price

Summaries - Australian Financial Review
3 May 2011, Page: 3

Analysis from the Clean Energy Council has found that the energy market is anticipating that there is only a 50% chance of a carbon price being established by the middle of 2012 ANZ global head of energy trading Gary Wyatt said wholesale power market players believe that there is a 25% chance that prices would exceed $15 a tonne for carbon emissions. The analysis coincided with figures from Bloomberg New Energy Finance which showed that the Renewable Energy Target would deliver at least $36 billion from investment during the next decade. Elsewhere Pacific Hydro chief executive Rob Grant believes the clean energy sector has become a major contributor to the way the economy will be shaped. Meanwhile a Newspoll survey has found that there has been a 5% decline in the number of people prepared to pay more to tackle climate change.