| Carbon Week |
| Carbon Week |
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The big question remains what will happen to existing obligations in the GGAS market now that DSA producers will no longer be contributing to supply from 1 January 2009? In theory, if the current GGAS obligations are maintained and DSA production is removed, the supply/demand status quo will be altered considerably. In 2007 almost 10 million NGACs were created via the DSA rule. NEET will remove this contribution, but the NGAC surplus still remains in the 10s of millions'.
(Full Article)The NSW Treasurer appeared to hold the view that CO2 dumps and renewable energy were the same thing; he was perhaps not aware they were competitive.
(Full Article)NSW Treasurer, Michael Costa said the losses to the State after 2010 carbon market were “sensitive and will be kept confidential”. The Auditor had warned the State should prepare a back-up “retention” plan.
(Full Article)Duncan Gay, NSW Deputy Leader of the Opposition, said the trading scheme was yet to go before the Australian senate, where balance of power was held by a small group of Independents, including the newly elected South Australia Senator, Nick Xenophon, the Family First party and the Greens.
(Full Article)The NSW National opposition told Parliament, there was “no way the (NSW) Treasurer can be assured that legislation for the emissions trading scheme will be in place”.
(Full Article)The Australian All Ordinaries had fallen by almost 20 per cent and the Australian utilities sector index fell by almost 30 per cent. Carbon cost would impact high-pollution assets.
(Full Article)The NSW Government electricity planner TransGrid said NSW retail prices appeared about to take a near-vertical leap upwards. It also expected Queensland's over all demand to soon over take NSW.
(Full Article)In the NGAC market, with many participants awaiting follow up to the NSW Energy Efficiency Target (NEET) announcement, the trading week began slowly.
(Full Article)NSW coal and carbon contracts must align with the sale contracts said Peter Achterstraat, NSW Auditor-General. He said NSW hedge contracts would need to adequately capture the additional costs of emissions trading (ETS).
(Full Article)Peter Achterstraat, NSW Auditor-General said a confidential reserve price for each transaction needed to be set by Government, based on "retention value". This was the value if no-one offered to buy. NSW Treasury had not done a retention valuation, yet. A Retention Value was lower than the transaction value; and was a State secret. However it was not a secret to anyone interested to multiply MW/h by CO2-e. See above for the results at a low $20 a tonne/C02.
(Full Article)Reading between the lines of the NSW Auditor-General’s Report to the Legislative Assembly, warnings appeared, that the carbon market may render NSW generators un-sellable. The A-G referred to this as “material unquantifiable risk”.
(Full Article)The NSW Treasury had recommended delaying the sale of any generator until National Emissions Trading Scheme (ETS) details were known. if the Federal government meet its emissions trading policy deadline, the first generator transaction would proceed in 2009.
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