Energy Minister Ian MacDonald has announced interim exemptions for emissions intensive, trade exposed (EITE) industries under the Energy savings Scheme (ESS). The Interim Exemptions Order, to be revoked on 31 December 2009, lists a number of NSW-based industries that qualify for the partial exemption of either 60% or 90% of total load. Retailers can deduct 5% of this exempted load from their overall ESS obligations.
In Darwin yesterday, the Council of Australian Governments (COAG) signed the National Partnership Agreement on Energy Efficiency. The package aims to deliver ‘a nationally-consistent and cooperative approach to energy efficiency’ and includes:
In Darwin yesterday, the Council of Australian Governments (COAG) signed the revised Australian Energy Market Agreement which allows carbon cost pass-through for CPRS and RET to regulated users.
The Federal Government has posted the details of the changes to the planned Carbon Pollution Reduction Scheme (CPRS) that were announced yesterday.
On 30th April, The Council of Australian Governments (COAG), announced an agreement ‘on the design of a Renewable Energy Target Scheme to achieve a 20 per cent share of renewables, or some 45,000 gigawatt hours, in Australia’s electricity mix by 2020.’
In a press release issued yesterday, NextGen annouced that it has brokered a put option last week on a notional 50,000 AEUs. The buyer paid $2.20 for a strike price of $19 on the 2011/2012 vintage certificates.
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.
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.
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.
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