Victorian Government Announces Energy Efficiency Target

Another day, another policy. The Victorian Government has announced that it will introduce an energy efficiency trading scheme (VEET) which will commence in 2009. The scheme will require retailers like AGL to implement (or purchase certificates from other energy efficiency providers) energy efficiency initiatives for our customers. Further information is available on the Victorian Department of Primary Industries website.

ALP Announces 20% Renewables Target

Today, the ALP announced a 20% by 2020 renewable energy target. This policy initiative would require retailers like AGL to purchase 20% of their electricity from renewable sources such as wind, solar and biomass. The target translates to 45,000 GWh which is equivalent to around three times the level of renewable energy produced at present. Further information is available here.

AGL listed on Climate Leadership Index

On Wednesday, the Carbon Disclosure Project (CDP) Report 2007 for Australia and New Zealand was launched by the Investor Group on Climate Change in conjunction with Goldman Sachs JBWere and The Climate Institute.AGL Energy was listed as part of the Goldman Sachs JBWere Climate Disclosure Leadership Index, for the second year running (previously as The Australian Gas Light Company).AGL was highlighted as demonstrating a detailed understanding and assessment of regulatory risk associated with climate change, having articulated the financial potential of climate change for their business and for participating in the Chicago Climate Exchange.AGL was rated second (behind Rio Tinto) of ASX100 and NZX50 for their “demonstrated understanding compared to action” on climate change.

The report is available to be downloaded at www.igcc.org.au

QLD Pensioner Rebates

The QLD Government has announced that pensioners using reticulated gas will be eligible for a $55 annual rebate. The $2.75 million program will be backdated to 1 July 2007. Further information about the program is available at the Department of Mines and Energy website.

AGL in Brisbane

Last week viewers of Queensland Channel 7’s Sunrise program caught a good glimpse of AGL’s Sustainable Energy Balloon, which floated past on screen during a morning traffic report.