From ASX release 25 July:"Increase in Electricity Price Tariffs...

From ASX release 25 July:

"Increase in Electricity Price Tariffs for Panax Geothermal’s Indonesian Projects

Panax Geothermal Limited (“Panax”) is pleased to report that the Indonesian Government has confirmed a significant increase in the electricity tariff that will be payable for Panax’s geothermal energy projects in Indonesia.

The feed-in-tariff for Indonesian geothermal projects will increase from the current $US97/MWh, to $US120/MWh for geothermal projects in Java, and to $US150/MWh for projects on the island of Flores.

The increases were announced by Indonesian Energy and Mineral Resources Minister, Mr Jero Wacik, at the recent Indonesia Renewable Energy and Energy Conservation
Conference in Jakarta, and have been confirmed subsequently by the President of Republic of Indonesia, Mr Susilo Bambang Yudhoyono, in Jakarta.

Panax is also pleased to announce that following recent discussions in Jakarta with PT Dairi Prima Minerals, we anticipate that the electricity pricing for our Dairi Prima Geothermal Project will be increased from the current US150/MWh to an expected amount of $US170/MWh.

Panax is targeting production at Dairi Prima by late 2013 with its production share increasing to 86MW when all three projects are in full production."