Archive for March, 2009
Baker & McKenzie have created an excellent guide to the United Nations’ Clean Development Mechanism (CDM) called the CDM Rulebook. Under the CDM, participants can create Certified Emission Reduction certificates (CERs). CERs are of interest to Australian energy markets participants due to inclusion of some types of CERs in the Carbon Pollution Reduction Scheme (CPRS) white paper.
Baker & McKenzie have also created the JI Rulebook to explain the Joint Implementation (JI) mechanism. ERUs created under JI are also linked to the CPRS scheme.
Andrew Felton and Carmen M. Reinhart have edited a collection of articles relating to the current global financial crisis.
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“NSW workers may find themselves in a situation similar to that of workers in Victoria, where the privatisation of the state’s electricity grid is happening at an alarming rate.”
The above quote appeared in the Australian on the 3rd of May, 1995. The NSW Government is indeed moving at an alarming rate. In only fourteen short years the Government already has a draft plan and a tentative sale date.
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On 20 January 2009, the NSW Treasurer Eric Roozendaal and Energy Minister Ian Macdonald announced that the March 2009 roll-off of the Electricity Tariff Equalisation Fund (ETEF) has been deferred until 27 September 2009. This is the second time in six months that ETEF has been deferred.
ETEF commenced operation on 1 January 2001, and its goal is essentially to mitigate the cost to state-owned electricity retailers of having to perform a social duty. Prior to ETEF, NSW had vesting contracts between generators and retailers, which were agreements to supply electricity at a fixed price to ‘non-contestable’ customers who were on a fixed tariff.
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On 1 July 2009, the NSW Energy Savings Scheme (ESS) commences operation. Formerly known as the NSW Energy Efficiency Target (NEET), the new scheme will run in parallel to the Federal Government’s Carbon Pollution Reduction Scheme (CPRS). The existing NSW Greenhouse Gas Reduction Scheme (GGAS) covers demand side abatement, however GGAS will be phased out at the beginning of CPRS. The Energy Savings Scheme continues coverage of demand side abatement in parallel with CPRS.
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The Australian Federal Government’s Carbon Pollution Reduction Scheme (CPRS) is currently scheduled to begin on 1st July, 2011. Originally slated for 1st July 2010, the scheme was delayed on 4th May 2009, along with a number of other changes.
On 15th December 2008, the Federal Government released the CPRS white paper, and on 10 March, 2009 posted the draft legislation.
Matt Zema, former CEO of VENCorp has been appointed the CEO of the Australian Energy Market Operator (AEMO). Commencing operations on 1 July 2009, the AEMO takes over the roles of NEMMCO, VENCorp, the Electricity Supply Industry Planning Council (ESIPC), the Retail Energy Market Company (REMCO), the Gas Market Company (GMC) and the Gas Retail Market Operator (GRMO). Brian Spalding, current CEO of NEMMCO, becomes the AEMO’s head of Operations.
