ckk needs some sort of government grant..., page-16

Its as if the Hock has been listening to our discussion and just wanted to remind us how big of a risk his government is to growth in clean energy. Front page of the Sydney Morning Herald today:

http://www.smh.com.au/environment/climate-change/hockey-pledges-to-revoke-energy-fund-loans-20111017-1ltec.html

'THE Coalition is warning investors in renewable energy not to count on money from the government's proposed $10 billion clean energy finance corporation, which it would abolish.'

'If there were legal obligations we would meet them but it would depend on the structure of any loans the fund had made … an at-call loan, for example, is revokable at any time,'' he said. ''We are warning people this is one of the things we will be repealing. They should not apply to or count on this entity for funding.''

'Announcing the appointment last week of a Reserve Bank board member, Jillian Broadbent, to advise on the design of the corporation, the Treasurer, Wayne Swan, said it was likely to make commercial loans, concessional loans and equity investments to close a 'market gap' in funding clean energy projects.'

'The clean energy finance corporation will be legislated next year and is due to start operating in 2013-14.'

To me it is just tragic what has happened to the carbon pricing debate in this country. Still, I think this policy will hold because the greens and sensible independents will be strong in the senate for a while yet. Shame the Coalition is wrecking the all important 'business certainty.'