Garnaut Review Announces Targets

The Garnaut Review has released a supplementary draft report recommending targets for the proposed Australian Carbon Pollution Reduction Scheme. I have attached a link to a summary here. From here, the Government will consider this report and then a final report before releasing draft legislation for the scheme at the end of the year.

AGL Announces Full Year Results

Blogging world – if you are like me, full year results can often appear a bit hard to understand – acronyms such as EBIT, NPAT – it sounds a bit like an accountant’s rap. However, underlying our results this year is a strong message that AGL is continuing to deliver value for our shareholders while continuing to consolidate our position as the largest privately owned renewable energy company in Australia. For more information on our results, please click here.

Carbon Management Services

Hi Blogging World. Apologies for the delay in posting – its a pretty hectic time at the moment with Green Paper’s to examine, projects to look at and a whole bunch of economic modelling to do!! Over the last month, AGL has launched Carbon Management Services (CMS) - a new business aimed at helping our customers lower their carbon footprint through the deployment of energy efficiency, cogeneration and renewable energy. More on the CMS business can be found at this link on the AGL website.

Commonwealth Government Green Paper

Apologies blogging world for the delay in blogging. I think it sums up just how much is going on in this space that we haven’t blogged for so long – we have been very busy! The Green Paper released by the Commonwealth Government outlines how the emissions trading scheme (now called the Carbon Pollution Reduction Scheme) will look. It is one of the biggest economic reforms undertaken by any Government in Australia’s history. I have attached here AGL’s summary of the scheme for our business customers. Click here to view Green Paper Summary.

Industry Response to the Budget

There was not alot in the Commonwealth Budget around emissions trading, climate change policy or energy policy. The major decisions this year are likely to be made outside of the Budget process and relate to the expansion of the Mandatory Renewable Energy Target and the introduction of an emissions trading scheme. One measure, introduced by the Budget, will see the solar PV rebate limited to households with incomes less than $100,000.

AGL & Westpac complete first “Australian Carbon” Trade

http://www.smh.com.au/news/national/19-a-tonne-the-price-to-pollute/2008/05/19/1211182703278.html

 

Today we announced the first trade in Australian Emissions Trading Units (AETUs).   AGL sold Cal 11 Australian Carbon at $19.  This is the culmination of the analysis of a prospective carbon market, and over the last couple of months, work amongst the Carbon Solutions team to get documentation and risk management worked out – with many hours spent with the lawyers, our risk managers, consultants and the Board to get this deal across the line.

 

What does it mean?  Well it means that AGL is pioneering the trade of carbon in Australia, we have made our assessment of all that is known about the carbon market rules and have now given Australian business, and more importnatly many of our major customers, a real indication of the price a tonne of carbon should expect to achieve in 2011.  We do expect others to have formed different views about the market and the likely carbon price – but it’s good to be on the front foot.