$1.35 resistance broken?, page-17

thought this is significant - no doubt the export market is crucial as the mish mash of policies of our various gov'ts and the strong dollar, high costs etc seems to be sapping demand from domestic users:(plus there is a game of brinkmanship going on or possum -see who blinks first!)

AGL shelves plans for $1bn gas-fired station

by: Matt Chambers
From: The Australian
October 20, 2012 12:00AM

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PLANS for one of the nation's biggest gas-fired power stations -- the $1 billion Dalton project near Yass in the NSW southern tablelands -- have been shelved because of weak demand and uncertain state price regulation.

AGL Energy yesterday said it would suspend development of the 1000 megawatt power station, despite having recently received state and federal approvals.

The decision comes just days after The Australian revealed Energy Australia, the former TruEnergy, would scale back power generation at the Yallourn station in Victoria's Latrobe Valley because of the carbon tax, low prices and weak demand.

Climate Change Minister Greg Combet said the Yallourn closure was evidence the carbon tax was working.


What did people make of the a.i.g. "study" about how we should give everyone our gas cheap so that this will help prop up our manufacturing!! maybe they should have been more proactive tackling high i.r. costs high super and high state and fed govt charges!!

we all know that in the long term a "reservation" policy will likely lead to shortages and higher prices than would otherwise be the case!