CANBERRA, Aug 17 (Reuters) - Australian laws to require 20
percent of energy to come from renewable sources by 2020 are set
to pass through parliament by late Thursday after government
talks with opposition lawmakers on the bill on Monday.
The clean energy industry expects the laws will unlock $22
billion of investment in solar, wind and geothermal energy, after
the government backed down on linking compensation for industry
to its emissions trading laws, which were rejected on Aug. 13.
"The government is determined to do all that we are able to
get this legislation through," Climate Change Minister Penny Wong
told Australia radio, adding she would negotiate with the
opposition and Greens to make sure the laws were endorsed.
The renewable energy laws target 45,000 gigawatt hours of
clean energy by 2020, or 20 percent of Australian energy. Latest
government data said renewable energy accounted for about 5
percent of Australia's total energy consumption.
Wong has announced interim compensation from January 2010 for
electricity intensive exporting industries, such as aluminium
smelters Alcoa Inc., Alumina Ltd and Hydro
Aluminium.
The interim compensation will cover the industries until
carbon emissions trade laws, and associated compensation schemes,
are passed through parliament.
Wong said she expected aluminium smelters, silicon producers
and newsprint manufacturers, would be eligible for compensation,
which kicks in for activities which use 3,000 megawatt hours of
electricity for every A$1 million ($826,000) of revenue.
Without the compensation, the Australian Aluminium Council,
which represents the country's six aluminium smelters, said the
industry would face extra costs of about A$700 million over the
next 10 years.
POLL
Meanwhile, a new poll found most Australians want the
government to push ahead with its carbon emissions trading
scheme, even if this means calling a snap election to overcome
parliamentary opposition to it.
Prime Minister Kevin Rudd could have the option of calling a
snap election if parliament's upper house Senate rejects the laws
a second time from November 16. [ID:nSYD16743].
A Nielsen poll in Fairfax newspapers found 55 percent backed
Rudd's plan to push ahead with carbon trade laws, with only 29
percent preferring the laws be delayed until after December's
global climate talks in Copenhagen.
The poll showed Rudd's Labor party still held an
election-winning 56-44 percent lead over the conservative
opposition, though Labor's support in the two-party vote that
decides elections edged 2 points lower from June.
Rudd has said he does not want to call an early election, but
some political experts say he will never rule that option out,
especially with the opposition trailing badly in opinion polls.
The opposition's campaign against the government's scheme
received a boost on Monday when Australia's top steel-maker,
BlueScope Steel, said the government's plan would cost
the firm up to $1.16 billion and put the entire local steel
industry at risk.
"It would severely damage our competitiveness, putting
domestic investment, Australian jobs and the Australian steel
industry at high risk," it said in its annual results statement.
U.S. oil major ExxonMobilalso called on the
Australian government to scrap the carbon trade plan and consider
a carbon tax regime as an alternative.
"A carbon tax is more transparent to consumers, will achieve
greater environmental benefits and is more difficult to
manipulate than a cap and trade programme," said ExxonMobil
Australia's chairman, John Dashwood.
- Forums
- ASX - General
- australian renewable laws set to pass parl.
australian renewable laws set to pass parl.
-
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online