Browsing: Carbon law, policy/NGER

Australia's energy ministers want to know what changes to make to the nation's electricity and gas markets to accommodate emissions trading and a tougher renewables energy target. Now the body charged with the task of finding out has identified eight potential areas of risk – including insufficient generating capacity, network constraints and possible tepid investor interest.

• Trading scheme views of major companies yet to emerge
  
• Ferguson sets out approach to renewables funding
  
• Energy market rulemaker set to release climate policy scoping paper
  
• Oil and gas industry association issues new environmental code
  
• Government seeks new renewable energy regulator

Breaking ranks with many of its large corporate peers, Origin Energy has told the Rudd Government that Garnaut's 2020 proposals are 'unnecessarily conservative' and that trading should be introduced 'as soon as possible'. Origin also throws its conditional support behind Rudd's planned expansion of the Renewable Energy Target scheme.

Simply Energy cautions on the fate of GreenPower, the NSW Coalition ponders the usefulness of giving money to Bunnings to change light bulbs, Alcoa seeks carbon storage credits, steelmakers say don't expect more than a 10% improvement in intensity over a decade and a Victorian agency says it seems set to get hand-outs for a coal-fired power station that should rightly go to Alcoa. CE Daily takes a look at some of the latest green paper submissions to reach the public domain.

Australia's trading scheme should have a low price cap at least until 2015 and the nation's 2020 target range should not propose a cut any deeper than 10% below 2000 levels, according to the Australian Industry Group's green paper submission, released today.

Almost three quarters of ASX100 companies responded to this year's global Carbon Disclosure Project questionnaire, up 26% on last year's response rate, according to results to be launched today by Climate Change Minister Penny Wong. The report assesses the carbon risk facing 68 of the participating companies, with 10 – including Alumina Ltd, BlueScope and OneSteel – having an "underlying carbon risk" above 5% of 2007 earnings.

As the release of a much-anticipated Treasury analysis of the economic effects of various emissions trajectories draws tantalisingly close, Treasurer Wayne Swan and Climate Change Minister Penny Wong on Friday released details of the underpinning assumptions.

The turmoil on financial markets shows trading schemes need to be designed to withstand shocks 'that you would never believe would happen', Reserve Bank board member Warwick McKibbin tells CE Daily.

The Rudd Government will announce a medium-term target 'range' before this December's UN climate change talks in Poznan, Climate Change Minister Penny Wong said today. Wong also praised businesses for being prepare to share company information with the government in the lead-up to finalising the trading scheme's design.

Garnaut's proposal to calculate assistance for big emitters by modelling changes in world prices 'can't be done', according to Australian Industry Greenhouse Network chief Michael Hitchens. Plus reaction from Bob Brown, the Australian Industry Group, the Minerals Council and the ACF.