csg included in renewable enrgy target to 2020

Last night the Lower House passed this Renewable Energy target legislation which will be positive for the development of gas-fired power stations. Here's an extract from ABC News Online:

Coal gas included

Last night's amendment agreed that gas created from coal mining and used elsewhere as an energy source can be counted within the 20 per cent target.

Greens Senator Christine Milne says coal seam methane is not a renewable energy source.

She says Labor and the Liberals are joining forces to use the renewable energy target to increase the profit margins of the coal sector.

Senator Wong says there will be limits and they will only be part of the scheme until 2020."

Now I am "green" in inclination but I have commented here a number of times that we can't get to 10% or in fact anywhwere near 20% renewable energy in the near-term and that CSG was the obvious way for Australia and in fact Asian generally to reduce emmissions from power generation and "bridge the gap to 2020". Its good to see this sensible option accepted by the parliament. It should facilitate the development and operational regime of new gas-fired power plants and the conversion of exiting coal plants.

Good news for the sector and particulatly for the likes of STO and ESG who want to supply gas to power stations in NSW.

H