| Carbon Week |
| Carbon Week |
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Australia's target was to limit its greenhouse gas emissions to 108 per cent of 1990 emissions in the first commitment period.
(Full Article)Local governments’ bid for for carbo compo was refused by Federal planners. The South East Queensland Council of Mayors, the Western Sydney Regional Organisation of Councils, the Local Government Association of Tasmania, the Shoalhaven City Council and the Australia Institute argued that local government should be treated as a strongly affected industry, or otherwise provided with compensation to adapt to the scheme.
(Full Article)Australia's Low Pollution Future White Paper told Skywest Airlines, the Regional Aviation Association, Virgin Blue and Qantas, they had to pay the carbon Virgin Blue estimated emissions intensity of aviation to be around 800 tonnes of CO2-e per million dollars of revenue (Submission 461, p. 2). At a carbon price of $25 per tonne of CO2-e, this represented approximately a 2 per cent increase in the cost of air travel, which is broadly similar to the general level of inflation in the consumer price index in any given year.
(Full Article)Arc Energy has agreed to a partnership with Aviva to study dump carbon dioxide in depleted oil and gas reservoirs in the North Perth Basin.
(Full Article)The price of carbon will be determined by the balance of supply and demand for permits. The Treasury modelling suggests that, in the context of efficient market-based global action to stabilise greenhouse gas concentrations at 550 ppm, the initial emission price in 2010 could be around A$23/t CO2-e in nominal terms.
(Full Article)Australia's Low Pollution Future White Paper plan was to pay carbon compo emissions-intensive trade-exposed (EITE) industries, in Australia at the carbon price, per 1t CO2-e per MWh. The price muitiplier guestimate ranged between $24 - the current price for carbon and $40 - being the proposed price ceiling.
(Full Article)The White Paper - which still had to pass a Greens-dominated Senate in 2009 - had offered cash-back carbon compo, using tests of trade exposure and emissions intensity to Emissions-intensive trade-exposed (EITE) industries in Australia.
(Full Article)Coal-fired generators were to get a lump sum compo of $3.9 billion based initial carbon price of $25 per tonne. These permits will be distributed to each eligible generator over the first five years of the Scheme. The amount of assistance for each generator will be determined up front, before Scheme commencement.
(Full Article)The White Paper sets this electricity allocation factor at 1t CO2-e per megawatt-hour.
(Full Article)The White Paper has extended free allocations for emissions from the use of steam, and emissions associated with the extraction and production of natural gas and its derivatives such as methane and ethane when used as a feedstock.
(Full Article)The Australian policy was ‘Carbon capture and storage (CCS) is one key technology that could allow coal to continue to play a major role in the world's energy supplies in a carbon constrained environment”.
(Full Article)If there are no restrictions on international emissions trade, Australia's emission price will be determined by the global price. In the scenarios the Treasury has modeled, Australia's emission price is equal to the global price, with an allowance for changes in the exchange rate.
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